With the ECB adamant that it will continue to raise rates this would seem to be the most untimely of questions, but there are now signs that this may well be the case.
Firstly this in Bloomberg today:
Federal Reserve to Cut Rates in 2007, Corporate Bond Sales Show
Thinking about refinancing your mortgage in [...]

Our next anniversary guest post is from the estimable Mark Thoma.
The Fed and the ECB have different economic outlooks for the U.S. and European economies. For instance, the Financial Times reports:

Fed and ECB diverge on economic outlook, by Chris Giles and Ralph Atkins, Financial Times: The Federal Reserve and the European Central Bank [...]

This was Wolfgang Munchau writing in the Financial Times a week ago:
“The pre-announced interest rate rise that the European Central Bank is due to agree this Thursday must rank as one of the most bizarre monetary policy decisions of recent times. The economic recovery in the eurozone remains fragile, as last week’s German confidence indicators [...]

The always interesting Paul de Grauwe has a piece in the FT today (subscription only unfortunately, but he does collect all his FT pieces on his website here, so it will doubtless appear eventually). Basically he is arguing a view which I agree with: in its enthusiasm for raising interest rates the ECB is overdoing [...]

Well the eurozone government deficit problem has hit the agenda with a thud again in the last few days. Yesterday the FT ran a story about how the ECB has decided that it will not accept government paper (bonds) in the future from any country which has not maintained at least an A- rating [...]

I have already posted on my own blog about what I see as the surreal consequences which might follow from this wish becoming a reality. If what I think happens next to the Spanish economy really does happen - and I have no doubt whatsoever that the housing bubble will crash one or other of [...]

Well, well, what do you know: Paramalat’s real debt is much bigger than was first thought. What a surprise. According to the Financial Times Parmalat’s gross debt now stands between ?14.5bn and ?14.8bn ($18.08bn-$18.46bn). At the same time its main Italian operations barely made a gross operating profit last year. Meantime Italy’s unions are [...]