ECB keeps close watch on France’s steady growth

The August bulletin from the European Central Bank (ECB) repeatedly states, in typically verbose central-bank-speak, that ‘‘a progressive withdrawal of monetary accommodation will be warranted if the governing council’s assumptions and baseline scena

26th August, 2006

The August bulletin from the European Central Bank (ECB) repeatedly states, in typically verbose central-bank-speak, that ‘‘a progressive withdrawal of monetary accommodation will be warranted if the governing council’s assumptions and baseline scenario are confirmed’’.

In plain English, this means that, if the economic giants of Europe, France and Germany keep delivering strong growth, robust investment and potentially higher inflation, the ECB will again increase its interest rates -...

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