Reuters: Regulatory News: ECB did not discuss near-term rate cut -Draghi

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ECB did not discuss near-term rate cut -Draghi Oct 4th 2012, 13:07 BRDO PRI KRANJU, Slovenia | Thu Oct 4, 2012 9:07am EDT BRDO PRI KRANJU, Slovenia Oct 4 (Reuters) - European Central Bank policymakers did not discuss the possibility of cutting interest rates in the near-term at their meeting on Thursday, ECB President Mario Draghi said. Asked at the post-meeting news conference if there had been any discussion today about a possible rate cut in the months to come, Draghi said: "(On this question) the answer was no." The bank kept its main rates on hold as expected on Thursday, but many economists and investors had expected it to cut official borrowing costs before the end of the year. Asked separately if a cut in interest rates was conceivable alongside the implementation of the bank's potential bond-buying programme for euro zone bonds, he added: "Non-standard monetary policy measures are being implemented when the standard ones are not fully effective... We have to see if we can repair the monetary policy transmission channels."

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