Draghi’s Rate Cut Puts ECB in Holding Pattern Until 2014

Mario Draghi won’t follow his unexpected interest-rate cut with new liquidity injections into the financial system next month, economists say.

While a majority in a Bloomberg survey say the European Central Bank’s most probable next move is a measure such as long-term loans, 77 percent of those see it happening in the first or second quarter of 2014. Just 9 percent see Draghi taking action in December.