Hope fades for cut in interest rates for industrialised nations
by Phillip Inman from on (#6J4MC)
US Federal Reserve expected to hold rate, ECB says talks on reductions premature, and Bank of England could delay change until summer
The prospect of early interest rate cuts this year across leading industrialised nations received a blow on Thursday after figures showed the US economy grew at a faster pace than expected last year.
A stronger than forecast increase in US gross domestic product (GDP) of 3.3% last year dented hopes in the US, while the European Central Bank hinted at delays to the first cut in the cost of borrowing.
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