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12-03-2008, 12:08 PM
He expects a cut of 100 basis points, or a full percentage point, to a joint all-time low of 2%, but said a bigger move wouldn't be a surprise.
The Frankfurt-based European Central Bank's rate-setting Governing Council took a more measured approach last month, cutting its key rate by a half point to 3.25%. Combined with a half-point cut in October as part of a global easing maneuver by the world's central banks, the key rate has fallen a full percentage point from its peak.
The MPC will announce its latest decision Thursday at 7 a.m. Eastern. The ECB Governing Council, which is meeting this month in Brussels, will unveil its decision at 7:45 a.m. Eastern. ECB President Jean-Claude Trichet will hold his monthly news conference at 8:30 a.m. Eastern.
The Frankfurt-based European Central Bank's rate-setting Governing Council took a more measured approach last month, cutting its key rate by a half point to 3.25%. Combined with a half-point cut in October as part of a global easing maneuver by the world's central banks, the key rate has fallen a full percentage point from its peak.
The MPC will announce its latest decision Thursday at 7 a.m. Eastern. The ECB Governing Council, which is meeting this month in Brussels, will unveil its decision at 7:45 a.m. Eastern. ECB President Jean-Claude Trichet will hold his monthly news conference at 8:30 a.m. Eastern.