Bank pressed on rate cut

The European Central Bank today faces new pressure to bring the euro’s rapid rise against the dollar under control by cutting interest rates.

Speaking at the World Economic Forum in Davos, Switzerland, the OECD’s chief economist Jean-Philippe Cotis said that a further rise in the value of the euro should mean a cut in rates.

"If the euro appreciates once again, then of course, the Europeans would have to use all measures possible for a recovery to sustain itself", he told journal...