|
|
Article: INTEREST RATES UNCHANGED BUT ECB READY TO ACT AT ANY TIME.(Brief Article)
- Article from:
- European Report
- Article date:
- November 5, 2005
CopyrightCOPYRIGHT 2005 Europolitics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
It came as no surprise that the European Central Bank's Governing Council decided in Frankfurt on November 3 to hold interest rates at 2% for the time being.
In response to the question on whether the ECB was preparing to raise interest rates in the near future, Jean-Claude Trichet repeated several times that the ECB was keeping its options open and "can move at any time". He said the EU's monetary policy body was making no promises but that it was "getting ready to intervene should the situation demand it". He then clarified further by saying that if the ECB needs to change interest rates "it would do so only to guarantee price stability and consequently promote ...