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Higher interest rates 'may boost euro next year'.
(From Irish Independent)
RISING interest rates in the eurozone could boost the single currency in the year ahead while simultaneously driving debt costs higher in the euro countries, according to the November edition of Ulster Bank's 'Focus' magazine.
The European Central Bank will raise interest rates twice in the coming months, with a 0.25pc increase expected in January or February 2006 and a second 0.25pc rise expected in summer 2006, according to Ulster Bank's financial markets strategist, Niall Dunne.
"A spike in inflation to a four-year high, a recent improvement in growth and hawkish comments from the European Central Bank have finally forced the market to accept that euro variable rates are about to rise," says Dunne.
He also predicts a stronger euro next year.
"The prospect of a higher yield on eurozone investments, allied to uncertainty over future rate direction in the post-Greenspan Fed, soaring US deficits, and the possibility of a property market correction slowing the US economy in the year ahead, all point toward a stronger euro in 2006," he ...
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