Trichet Says ECB Didn't Signal Rate Series, Never Pre-Commits |
| Bloomberg - Jun 25, 2008 |
European Central Bank President Jean- Claude Trichet said while he didn't signal a series of interest- rate increases, the bank never pre-commits.
``I said that we could increase rates by a small amount in order to secure a solid anchoring of inflation expectations,'' Trichet told the European Parliament in Brussels today. ``I didn't say that we could envisage a series of increases. That being said, of course we never pre-commit.''
Trichet on June 5 said the bank may raise its benchmark lending rate by a quarter-point to 4.25 percent in July to contain inflation even as economic growth cools. Investors responded by betting the ECB will raise rates twice this year. Record oil and food prices pushed inflation to 3.7 percent last month, well above the ECB's 2 percent limit.
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- Posted: 2008-06-25 08:18:24
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