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Trichet signals ECB rate rise with 'strong vigilance' code

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    Trichet signals ECB rate rise with 'strong vigilance' code

    European Central Bank president Jean-Claude Trichet signalled that eurozone interest rates could rise as early as next month, saying "strong vigilance is warranted" to curb rising inflation.

    He was commenting after the bank held interest rates at 1.25pc on Thursday.

    The ECB used the phrase "strong vigilance" in March before increasing rates in April. It also used the phrase repeatedly between 2005 and 2007, typically one month before it raised rates, although not always.

    Mr Trichet said evidence since the ECB's May meeting confirmed "continued upward pressure on overall inflation mainly owing to commodities and energy prices".

    "On balance, risks to price stability are on the upside, accordingly strong vigilance is warranted. On the basis of our assessment we will act in a firm and timely manner," he said.

    The euro fell more than a cent after Mr Trichet's remarks to $1.4484.

    Source: Trichet signals ECB rate rise with 'strong vigilance' code - Telegraph

    AtW's comment: good to see that someone competent is in charge of ECB - euro zone is in safe hands, well done!

    #2


    Gold broke another all time record today

    Comment


      #3
      Can you change the title, I was unsure as to why the English Cricket Board cared about a rate rise
      Originally posted by Stevie Wonder Boy
      I can't see any way to do it can you please advise?

      I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

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