ECB cuts rates as bets build on a summer pause

THE ECB cut interest rates as expected on Thursday and said it believed it was now well-positioned to cope with global economic uncertainty, as market bets grew on a summer pause in its year-long easing cycle.

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The bank has now lowered borrowing costs eight times, or by 2 percentage points since last June, seeking to prop up a euro zone economy that was struggling even before erratic US economic