European Central Bank expected to cut interest rates

[Gerald]

The European Central Bank is expected to cut interest rates when it announces its latest monthly decision later.It is tipped to cut eurozone rates by another quarter-point to 1%.But its actions, and the words of ECB President Mario Draghi, will be more closely scrutinised than ever as the ECB is also thought to be preparing a bailout for the Italian government.The meeting comes just ahead of a "do-or-die" Brussels summit of EU heads to hammer out a plan to save the euro.The two-day summit ending on Friday is expected to agree tough new rules and automatic fines to ensure that eurozone governments cut their borrowing to below 3% of their GDPs.It will also seek to boost the eurozone governments' own bailout capacity. Leaders still hope to find a way to double or triple the size of the eurozone governments' bailout fund - the European Financial Stability Facility (EFSF) - from its current 440bn euros (£375bn; $590bn).

http://www.bbc.co.uk/news/business-16082755

Note: 8 December 2011 Last updated at 10:58 GMT

[Skybird]

Great, right as I predicted just one or two weeks ago - ECB going for more mass-expropriation of private savers. Thank you, Italian ECB-president Draghi. The difference between inflation rate and interest rates now even greater.

It is idiotic to put the fox in charge of the henhouse. But the whole personnell structure at the ECB is idiotic.

[Jimbuna]

Originally Posted by Skybird

Great, right as I predicted just one or two weeks ago - ECB going for more mass-expropriation of private savers. Thank you, Italian ECB-president Draghi. The difference between inflation rate and interest rates now even greater.

It is idiotic to put the fox in charge of the henhouse. But the whole personnell structure at the ECB is idiotic.

LOL...keep a cool head Sky, it ain't good for the old blood pressure...simply invest your fortune in the futures market