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Bank 'has tools' to help eurozone

The European Central Bank still has room to manoeuvre should the eurozone economy continue to worsen after it slashed interest rates to a new record low last week, ECB policymakers said yesterday.

Yves Mersch, a member of the ECB's six-man Executive Board, said that the bank still had tools at its disposal, but added that it could only spur lending to small eurozone companies in conjunction with other European institutions.

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