The current cycle of monetary easing on both sides of the Atlantic may not be over yet, ECB President Mr Wim Duisenberg indicated today.
Speaking shortly after the European Central Bank sliced half a percentage point off its key interest rates, Mr Duisenberg said that euro-zone borrowing costs were now at "historically very low" levels, not seen in any member state since World War II.
But he could not say if the ECB had finished cutting rates. "If the United States has room for manoeuvre with an even lower interest rate level than we have, then you can imagine that we have not exhausted our room for manoeuvre," Mr Duisenberg said.
AFP