The President of the European Central Bank (ECB), Jean-Claude Trichet, today (2 December) cut his forecasts for growth in the euro area for this year and 2005 and repeated his opinion that record highs for the euro against the dollar are "unwelcome".
Keeping interest rates unchanged at two percent for the 18th consecutive month - as expected - Mr Trichet said that growth would be 1.8 percent this year and 1.9 percent next year. Previous estimates were 1.9 percent and 2.3 percent respec...
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