ECB rate cuts are ‘too little, too late’

THE European Central Bank (ECB), which meets today has been too slow to cut interest rates according to Nouriel Roubini, the New York University professor who predicted the global financial crisis.

“They are wrong, they are doing too little, too late,” Mr Roubini said adding that he believes the bank is making the economic situation worse.

The ECB is expected to keep interest rates on hold when it meets today.