IMF: European Central Bank may need to cut interest rate further

IMF: European Central Bank may need to cut interest rate further

The International Monetary Fund says the European Central Bank may need to further cut interest rates.

The IMF said that more action is needed by the ECB to end the eurozone financial crisis, and a rate cut would help to boost growth.

It also said that it wants to see greater progress being made to repair the balance sheets of European banks, something which it said would kick start lending.


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