ECB signals plans for further rate rises

ECB signals plans for further rate rises


The European Central Bank kept borrowing costs on hold at three percent on August 31, but ECB chief Jean-Claude Trichet signalled that the bank plans to press on with its interest rate hiking cycle. Speaking at his regular monthly press conference, Trichet said “strong vigilance” to contain inflationary risks was necessary, with the bank revising upwards both its growth and inflation forecasts. Strong vigilance is ECB code for an interest hike being in the pipeline. He was speaking following the...


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