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Ecb - Euro Rate Unchanged

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Bloomberg

May 4 (Bloomberg) -- European Central Bank President Jean- Claude Trichet said the bank needs to show ``vigilance'' as inflation rise mount, preparing the ground for an interest-rate increase as soon as next month.

``The governing council will exercise strong vigilance in order to ensure that risks to price stability over the medium term don't materialize,'' said Trichet at a press conference in Frankfurt today after the ECB left its benchmark lending rate at 2.5 percent.

The ECB has raised borrowing costs twice since the start of December and Trichet has used the word ``vigilance'' to signal the bank's intentions preceding each increase. More than a dozen government and industry reports in the past two weeks showed economic growth in the euro region is picking up, giving the ECB scope to further increase rates to curb inflation.

Trichet said the risks to inflation are on the ``upside,'' citing record oil prices and money supply growth. ``Monetary and credit growth remains very dynamic,'' he said.

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  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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