While you were sleeping ECB signals rate cut

Thu, 07 Feb 2013

By Margreet Dietz Feb 8 (BusinessDesk) - European Central Bank president Mario Draghi sent equities and the euro lower with comments that he's concerned about the recent strength of the region's common currency, signalling a potential rate cut. Draghi made the comments after policy makers of the ECB decided, as was widely expected, to keep the central bank's benchmark interest rate steady at a record low 0.75 percent. The euro has appreciated 6.7 percent over the past six months, the best performer of 10 developed-nation currencies tracked b...

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