ECBopts for wait-and-see policy
MARKET NEWS
FRANKFURT -- The European Central Bank resisted pressure to lower interest rates last week, making it the only G7 central bank not to do so this year in the wake of the US economic slowdown.
"Turning the ECB view towards cutting rates is like turning the Titanic around," Kamal Sharma, currency strategist at Commerzbank in London told FX Week. "I think the ECB will cut when the market is least expecting it."
The decision was clinched after data last week showed that German producer prices rose to 4
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