ECB rate reduction becomes less likely, analysts say

09/4/2013 | Reuters

Improvement in the European economy makes an interest-rate cut from the European Central Bank less likely this week, experts say. Despite forward guidance from ECB President Mario Draghi, positive economic indicators have pushed money market rates higher. "The good data end up diluting forward guidance," said Andrew Bosomworth, a portfolio manager at Pacific Investment Management. "Words are cheap but not as effective as actions."

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