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More signs that the ECB is getting ready for a rate cut with Austria's central bank head Nowotny stated that the "focus is now on vitalizing development". Nowotny stated "the rate of inflation is still over the ECB's objective rate", but added that "it obviously has a waning propensity" and that "unluckily we see the propensity that financial development is dawdling down as well considerably". Nowotny also said that "those are surely all characteristics which caused you to think about the choices you have, and to think about when financial policy should change towards a further unreserved way again." The ECB by now admitted that a rate cut was talked about at last week's conference and it appears a rate cut is now only a question of time
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