GERMANY: Markets say is not a big surprise that the ECB chooses to hold the interest rates at 1 percent but say there are certain cuts to come in the summer.

Record ID: 860698

  • Title: GERMANY: Markets say is not a big surprise that the ECB chooses to hold the interest rates at 1 percent but say there are certain cuts to come in the summer.
  • Date: 4th May 2012
  • Summary: FRANKFURT, GERMANY (MAY 3, 2012) (REUTERS) WIDE WITH ELECTRONIC BOARD SHOWING DAX TRADER ON PHONE ELECTRONIC BOARD SHOWING DAX WIDE OF TRADING FLOOR SHARE PRICES ON BOARD VARIOUS OF TRADERS AT WORK DAX CURVE (SOUNDBITE) (English) TRADER AT BAADER BANK, ROBERT HALVER, SAYING: "It's not a big surprise that the ECB (European Central Bank) left the key interest rates at 1 percent. Because the ECB is not interested in influencing the national election in France. But I'm sure in summer time, in autumn time, there will be two more interest rate cuts, to make clear, especially for the financial markets, the European crisis is a masterpiece of the ECB." ELECTRONIC BOARD SHOWING DAX WIDE OF TRADING FLOOR
  • Embargoed: 19th May 2012 13:00
  • Keywords:
  • Location: Germany
  • City:
  • Country: Germany
  • Topics: Business,European Union,Economy,Politics
  • Reuters ID: LVA5033AG0AWBQZAH51ZT7NT4ONW
  • Aspect Ratio:
  • Story Text: European shares rose and the euro slipped on Thursday (May 3) as markets waited to see if the euro zone's worsening economic outlook would prompt the region's central bank to open the door to further stimulus measures after it left interest rates on hold.
    The DAX rose slightly by 0.5 percent to 6.700 points.
    But one Frankfurt trader said the markets would remain mostly unchanged since the ECB decision was not unexpected.
    "It's not a big surprise that the ECB (European Central Bank) left the key interest rates at 1 percent," said trader Robert Halver for the Baader Bank. "Because the ECB is not interested in influencing the national election in France. But I'm sure im summer time, in autumn time, there will be two more interest rate cuts, to make clear, especially for the financial markets, the the European crisis is a masterpiece of the ECB."
    ECB President Mario Draghi urged euro zone governments to come up with a strategy to revive growth in the crisis-stricken currency bloc while continuing to push for fiscal consolidation.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2012. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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