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Trichet, Poised To Raise Rates, Upholds Bundesbank's Anti-inflation Legacy

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Guest The_Oldie


July 31 (Bloomberg) -- The European Central Bank might be run by a Frenchman; its heart and soul belong to Germany's Bundesbank.

ECB President Jean-Claude Trichet faces political pressure to stop raising interest rates, and some of his own policy makers query the extent of the inflation threat in Europe. Still, investors are betting he'll push borrowing costs higher, upholding the legacy of Germany's central bank, which celebrates its 50th anniversary tomorrow.

``Some ECB council members are sounding more cautious about further rate increases, but I'd still bet on the Bundesbank cabal winning the argument,'' said Charanjeev Chana, an economist at Stone & McCarthy Research Associates in London. ``We still expect rates to rise twice more by the end of the year.''

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The ECB will do whats right to make the euro work for the German economy. There's no way they'll sacrifice that for a few piss pot backwater countries who have a borrowing problem and make feck all else but debt. Without the economic might of Germany and its net contributions, the EU is nothing.

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