EUPHEMISTICALLY SPEAKING

ECB slashes its forecasts in signal of rate cut (Tony Major in Frankfurt, Ed Crooks in London and Francesco Guerrera in Brussels, June 12 2003, Financial Times)

The European Central Bank has given a strong signal that it will cut interest rates again soon, publishing forecasts that reveal its economists expect a combination of slow growth and falling inflation.

"Slow growth" and "falling inflation" are normally referred to more forthrightly as recession and deflation. Posted by Orrin Judd at June 13, 2003 12:26 PM