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Guest The_Oldie

European Central Bank Will Probably Raise Rate Today, Signal Further Moves

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Guest The_Oldie


June 6 (Bloomberg) -- The European Central Bank will probably raise its benchmark interest rate to a six-year high today and leave the door open for another increase to keep economic growth from fueling inflation, surveys of economists show.

ECB policy makers, led by President Jean-Claude Trichet, will raise the benchmark rate by a quarter-point to 4 percent, the highest since August 2001, according to all 52 economists in a Bloomberg News survey. The Frankfurt-based bank will increase its key rate at least once more this year, a separate survey shows.

Trichet last month called for ``strong vigilance'' on inflation, words he's used to signal each of the seven rate increases since late 2005. The ECB has expressed concern that companies will use the strongest period of economic growth this decade to increase prices. The International Monetary Fund yesterday raised its European growth forecast for this year............

Assuming they do raise, will it influence the MPC decision tomorrow?

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What time today is the OZ decision down under? ;)

6 June 2007

At its meeting on 5 June, the Reserve Bank Board decided to leave the cash rate target unchanged at 6.25 per cent.

Edited by Panda

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The ECB will raise rates, but the markets will be looking to what its President - Jeane Claude Trichet has to say.

There is a direct link to the ECB video conference through this page: http://www.todayfx.com/calendar.html under their euro section.

The Press conference starts at 13:30 British time.

It won't influence the Bank of England. It will be keeping rates on hold tomorrow. Stock markets are a looking a little edgy today, with carry traders having lost the run of themselves again overnight, so it could be an interesting day all round Wednesday.

Edited by Sebastian

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