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Signs of a new consuming passion emerge at European Central Bank.
(From Irish Independent)
Suddenly, the consumer is king with members of the ECB and there's talk of an early interest rate cut. But a faltering eurozone growth rate also requires other types of remedial action
HEARING eurobankers talk about the consumer gives one quite a start. Even a shock.
It's as if John Kelly's artistic guests on television suddenly started analysing the soccermatch. What has it got to do with them?
But a veritable queue of European Central Bank officials formed in the last week or so toworry about consumer confidence and spending and whether the ECB should dosomething to make them feel better. What can it mean?
Even the Irish Central Bank Governor, John Hurley, had something to say - although, asis usually the case with central bankers, there was disagreement on what he actuallymeant.
It would certainly be a big surprise if the ECB cut rates today, although it is not entirely impossible. But the talk was clearly co-ordinated, and must mean something.
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