The European Central Bank slashed its eurozone economic outlook for next year, forecasting further contraction at a time of record unemployment, but decided to keep interest rates on hold as it saw no big threat from inflation.Mario Draghi, ECB president, said a “gradual recovery should start later in 2013”. Speaking after a meeting of the interest rate-setting governing council, he said the “prevailing consensus” on the council was to keep the main refinancing rate on hold at 0.75 per cent. ECB cuts eurozone growth forecasts – FT.com.
- French bond yields hit euro-era low – FT.com
- ”GOODBYE EUROPE”