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Fri 10 Oct 2008ECB chief signals rates may be cut soon
BORROWING COSTS:EURO ZONE interest rates could soon be cut for the first time in five years, the European Central Bank (ECB) signalled yesterday, after acknowledging that global financial turmoil had changed substantially the economic outlook for the 15-country region.
Jean-Claude Trichet, ECB president, opened the door for a possible cut in official borrowing costs from 4.25 per cent in November - or earlier if the financial market crisis escalates - by saying that although euro zone inflation risks had not disappeared, they had fallen.
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