BERLIN (MktNews) - A majority of Germany's business leaders are oppose an interest rate cut by the European Central Bank (ECB), according to a poll released Thursday.
Of the survey's 803 respondents, more than the majority (53%) said they would favor the ECB leaving official interest rates unchanged, while only 45% of the business leaders called for an interest rate cut.
The poll, conducted for the business daily Handelsblatt, was released prior to its publication in Friday's edition. It gave no reason for managers' responses.
The outcome of the poll is a surprise, since signs of slowing growth and concern over the extent of the U.S. economic slowdown have resulted in an increase in the number voices urging an ECB rate cut.
The February Ifo west German business sentiment index -- a barometer for the eurozone outlook -- declined sharply Wednesday and forecasts for 2001 German GDP growth have been revised down by several of the nation's leading economic research institutes.
Most German executives also said that they do not expect the euro's foreign exchange rate to turn around in the near future.
While 53% believe that the euro will remain below parity with the dollar over the next six months, 43% of the respondents see the euro reaching parity. Only 3% expect the euro to rise above parity.
The survey was carried out by the German opinion poll institute Psephos in behalf of Handelsblatt from March 5-19.