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The Boston Globe

Business

Eurozone said still caught in a recession

Investors push ECB for action to stimulate growth

The beleaguered eurozone remains stuck in recession, according to data published Tuesday, increasing pressure on the European Central Bank to find a way to stimulate growth soon.

Stock and bond markets rallied in the United States and Europe on hopes that the central bank would cut the benchmark interest rate for euro countries as early as next week. On Wall Street, the Standard & Poor’s 500 index and other major barometers all closed with gains of more than 1 percent, while the 10-year Treasury bond yield touched 1.645 percent, the lowest intraday level since Dec. 12.

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