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EUOBSERVER / BRUSSELS - The European Central Bank on Thursday (2 April) cut the interest rate in the 16-member strong euro area by 25 basis points to 1.25 percent, with the institution's president, Jean-Claude Trichet, indicating further cuts are still possible.

"Today's decision takes into account the expectation that price pressures will remain subdued, reflecting the substantial past fall in commodity prices and the marked weakening of economic activity in the euro area and globally," Mr Trichet said at a press conference in Frankfurt.

by In Wales (inwales aaat eurotrib.com) on Thu Apr 2nd, 2009 at 03:51:37 PM EST
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