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05.09.2014 17:43:00
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Moody's: New ECB measures are credit positive, but highlight continued challenges
London, 05 September 2014 -- Whilst measures announced by the European Central Bank yesterday are broadly credit positive for the euro area, the immediate impact on the economy is likely to be limited. Furthermore, the need for new stimulus highlights the continued economic and financial challenges in the region, says Moody's Investors Service in a new report published today. In particular, the rating agency notes that it will take considerable time for purchases of asset-backed securities to engender significant alternative credit flows.
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