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As knowing, European Central Bank decided interest rate to 4.25% was widely expected Thursday, followed by a question and answer meeting, growth signal in the euro zone was weaker.
A source in forbes said that
“A European Central Bank rate hike has become very unlikely now,” said Rainer Guntermann, economist with Dresdner Kleinwort, who before the press conference had forecast another increase before the end of the year. He told Forbes.com that inflationary pressures would come down towards the end of the year, as commodity prices fell, consumer demand weakened and more slack came into the labor market.
The falling jump of Dollar affect to the value of gold. At this thime gold settled at $870.70, from a high earlier in the day of $883.80. This recession to euro zone make a stronger to the bargaining power of unions.
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