No pickup for eurozone economies before 2010, says central bank
April 9th, 2009 - 5:29 pm ICT by IANSFrankfurt, April 9 (DPA) European economies can only expect to begin their recovery in 2010, the European Central Bank (ECB) predicted Thursday.
This year, global demand is likely to remain very low since global economies including the eurozone are “in a serious downturn”, the ECB wrote in its monthly newsletter, published Thursday.
The ECB responded to the economic downturn last week with a 0.25 basis point rate cut to 1.25 percent, the lowest interest rate since World War II.
ECB President Jean-Claude Trichet did not rule out further rate cuts.
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Tags: basis point rate, dpa, ecb president, economic downturn, european economies, frankfurt, global demand, global economies, jean claude trichet, lowest interest rate, world war ii
