SHLD NOT BE OVERSTATED
BERLIN, Sept 13 - The contribution that monetary policy can make to improving the European economy's growth outlook is limited, Germany's private-sector banking association (BdB) said in its monthly report on Thursday.
"The development of the domestic economy in the euro zone is as before being hindered by structural problems," the association said.
The ECB was holding its first policy setting meeting on Thursday after attacks on Tuesday that devastated the heart of New York's financial centre. Most analysts expect the bank to hold its key interest rate at 4.25 percent.
The association noted that euro area money markets were however expecting an ECB rate cut before the end of the year.