Forex News: 12.04.2007 The ECB leaved interest rates unchanged
The Monetary Policy Committee of the European Central Bank has decided to leave interest rates at 3.75% after their monthly monetary policy meeting.The ECB raised rates for the last time on their previous meeting in March 8, in the seventh rate hike approved since the beginning of this current monetary tightening, back in December 2005.
This decision was widely expected by the market; we have to take in account that the ECB has never raised rates in two consecutive months.
The European Central Bank sees upward price pressures in the medium term and a "very close monitoring" is warranted, ECB President Jean-Claude Trichet said. Economic information that has become available has underpinned the ECB's 25 basis-point interest rate hike in March, Trichet said.
posted by Kalin Tasev @ 3:00 AM
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