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ECB expected to announce measures to address debt crisis

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by Kay Mitchell

The European Central Bank (ECB) is in the midst of its monetary policy meeting and while interest rates are expected to remain at the record low of 1%, measures may be announced to address the debt crisis.

There is speculation that the ECB may extend its Government bond purchase (liquidity) programme.

The latest debt crisis in Ireland means the bank may have to consider more drastic measures.

There have been fears that the debt crisis could spread to weaker euro zone economies, such as Portugal, Italy, Belgium and Spain and there is speculation that Portugal may be the next in line for a bailout – these claims have been fiercely denied, however.

In anticipation of today’s announcement from the ECB, the euro has stabilised and global shares have recovered from previous losses.

The ECB will announce its decision later today.

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News posted: December 2, 2010

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