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Euro Leaders Look to ECB for Help

Central bank is expected to cut rates at Wednesdays meeting.

By Patrick Donahue, Bloomberg | Updated on July 02, 2012

European leaders turn to the European Central Bank this week, seeking assistance from monetary policy makers to reinforce gains following euro-area leaders’ moves to calm markets and accelerate the currency bloc’s integration.

The Frankfurt-based ECB may offer help on July 5, with economists expecting an interest rate cut. The bank has a track record of action following political progress, including bond purchases that followed bailout programs and unlimited three-year loans on the heels of pledges supporting fiscal discipline.

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