The ECB raised interest rates by 0.25% to 1.50% this week, the second increase in three months, in an effort to rein in inflation which stood at an annual rate of 2.7% in June. ECB President, Trichet, commented that rates remain low and that risks to the outlook for price stability remain to the upside.
A further 0.25% hike is expected by year end with the ECB determined to achieve its inflation mandate of 2%.
In a further development the...
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