Thursday, July 3, 2008

Analysts expect ECB to raise interest rates by at least a quarter percentage point

ECB expected to raise interest rates

Analysts widely expect the European Central Bank to raise its main interest rate Thursday for the first time in a year in an effort to rein in escalating inflation, but whether such a move will help or hurt is still in question. ECB President Jean-Claude Trichet said at the bank's last monthly meeting June 5 that the bank is in a state of "heightened alertness" on inflation and could raise the main rate "by a small amount." He said at that meeting that members of the ECB's governing council had already made a case for raising rates even then.

Posted by stevie dee @ 09:51 AM (431 views)
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