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(CEP News) - There is evidence of a broad-based decline in inflation pressures in the euro zone, but expectations remain firmly anchored, according to the ECB's monthly report released on Thursday.
The report offered little additional insight into the thinking of the European Central Bank, echoing most of what was said at last week's post-rate decision press conference by President Jean-Claude Trichet. Last week, Trichet said the euro zone economy could be expected to return to growth sometime in 2010, and that the European Central Bank would continue to cut rates at a "measured pace". Markets interpreted that as meaning the ECB will cut by another 25 bps. He also promised to unveil possible alternative monetary policy tools, including quantitative easing, at the next meeting of the Governing Council in May. By Erik Kevin Franco,
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, edited by Stephen Huebl,
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