Eurozone set for rate cut of at least 50bp

Article reports that Eurozone official interest rates are almost certain to be slashed in December 2008 by at least half a percentage point after the EU's Economic Sentiment Indicator (ESI) for November 2008 showed the region facing its worst downturn since the recession of the early 1990s.

BBC News, 27.11.08: Eurozone sentiment at 15-year low http://news.bbc.co.uk/1/hi/business/7752102.stm

Deutsche Welle, 28.11.08: Falling European Inflation to Pave Way for Rate Cuts http://www.dw-world.de/dw/article/0,2144,3827874,00.html

European Commission: Press Release: IP/08/1806: November 2008: Economic sentiment falls to historically low levels in both the EU and the euro area http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/1806&format=PDF&aged=0&language=EN&guiLanguage=en

European Commission: Press Release: IP/08/1805: November 2008: Business Climate Indicator for the euro area decreases further in November http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/1805&format=PDF&aged=0&language=EN&guiLanguage=en

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