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European Central Bank cuts interest rates

The European Central Bank has cut interest rates by 25 basis points to 1.25 per cent in the first council meeting to be chaired by new president Mario Draghi.

The former Italian central bank governor took over as president this week and will give a press conference later today.

Ian Kernohan, economist at Royal London Asset Management, says: “Although the market was expecting a rate cut in December, it can’t have been a huge surprise that the European Central Bank cut rates today, given the very poor run of economic data in Europe.

“I don’t think this move has much to do with change at the top of the European Central Bank.”

He adds: “The economic backdrop has altered dramatically since the summer, and I suspect [former president] Trichet would have agreed to this move, if he was still president.”


Royal London life and pensions sales up 12%

Royal London’s life and pensions sales have increased 12 per cent from £2.3bn in the first nine months of 2010 to £2.5bn on September 30, 2011. New business at Scottish Life increased 13 per cent from £1.6bn in the first nine months of 2010 to £1.8bn in the first nine months this year. New business […]


FSA to examine structured product distributors

The FSA says it plans to review distribution practices for structured products next year, after it found weaknesses in the way providers are designing and approving the products. The regulator published new guidance for structured products today, which requires providers to identify their target market and design products that meet those customers’ needs, pre-test new […]

India budget: BJP focuses on growth

By Kunal Desai, Head of Indian Equities

With markets kept open on Saturday, finance minister Arun Jaitley delivered a promising budget focused on growth and decentralisation. While many complained about a six-day working week, there was much to be pleased about and the markets rallied in the afternoon to finish in the green.


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There is one comment at the moment, we would love to hear your opinion too.

  1. In complete contrast to the Eurozone, the IMF expects that Asia’s growth will still remain robust with China experiencing 9 percent growth in 2012 and India experiencing 7.5 percent growth as shown here:

    The contrast between the economic growth of the world’s developing nations and developed nations will make the balancing act for central bankers even more difficult in the coming year.

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