The European Central Bank left interest rates for the euro area unchanged at 2 per cent on Thursday (5 February).
The move was broadly inline with comments made by its president Jean-Claude Trichet at last month's meeting, although a number of analysts had raised the possibility of further cut this month.
Speaking at a press conference in Frankfurt, Mr Trichet signalled an interest rate cut is highly likely in March however.
"I will repeat our position that 2 per cent is ...
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