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ECB Rate Cut Won't Have Much Impact: Pro

4:00 AM ET Thu, 5 July 2012

"What we expect is only 0.25% rate cut, not 50%, this will have a marginal impact as we have deposit rates that are already at very low levels, it might give a signal to the currency markets that maybe the ECB is not willing to support the Euro," Patrick Legland, global head of research at Societe Generale, told CNBC.