Pressure mounts on RCB to cut interest rates
Posted on July 5th, 2005 by Brian Turner
The euro fell to its lowest point in relation to the US dollar in fourteen months as it reached $1.1869 against the greenback.
The European parliament has added to pressure on the European Central Bank to cut interest rates there by turning down a report that praised the ECB’s monetary policy by saying that central bank is too focused on stability while not taking into consideration the importance of economic growth.
The ECB has not raised interest rates in two years.
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