ECB’s Nowotny says the bank still has room to cut rates further after its latest smaller than expected 25 bp trim Thursday.
Talking to Market News the official said “As President Trichet indicated, there is still room for further reductions in interest rates” adding “what we did yesterday has to be seen in the context of a mid-term strategy and the markets have reacted positively to that, so it shows a sign of a firm and steady hand of the ECB.”
