While you were sleeping ECB cuts euro-zone growth for 2013

Thu, 06 Dec 2012

Dec. 7 (BusinessDesk) – The euro weakened against the US dollar and the yen after European Central Bank President Mario Draghi said the euro-zone was expected to stay in recession next year, reversing an earlier forecast for a recovery in economic growth. The downgrade to the outlook for gross domestic product came as the ECB left its benchmark interest rate at a record low 0.75 percent. Draghi said that there had been wide discussion on interest rates within the ECB, which taken together with the weaker growth track has stoked speculation th...

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