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ECB Seen Desisting From Further Rate Cut Until 2015

The European Central Bank will refrain from cutting its interest rate again until at least 2015, according to economists surveyed since President Mario Draghi’s pledge last week to deliver another reduction if needed.

The Frankfurt-based central bank will leave its main refinancing rate at a record-low 0.5 percent until the end of 2014, according to the median of 18 forecasts in the monthly Bloomberg survey of economists. The same survey shows that 27 of 32 economists predict no cut in the benchmark by the end of 2013, while five see a reduction to 0.25 percent.