Euro Zone interest rates closes to the bottom

The most important event today is the decision about the interest rates level in the Euro Zone. The European Central Bank is expecting to cut the interest rates to 1.00% with half percent by the current level of 1.50%. The fears for deeper of recession is the main reason for the ECB expectations said Peter Mill forex expert in ECB may signal that this will be not the bottom on the press conference at 8:30 AM today. Mr. Mill said that is expecting in the next few months ECB to cut interest rates to 0.50% - 0.75%. The interest rates politic will not work further. These low levels may cause panic in the population by the closing recession. Today the euro-dollar trading is in the levels of 1.3250-1.3310. The key moment with high volumes is expecting during the press conference today.

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