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Article: ECB leaves key lending rate unchanged at six-year high to quell inflation
- Article from:
- Xinhua News Agency
- Article date:
- May 8, 2008
CopyrightCopyright 2008 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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ECB leaves key lending rate unchanged at six-year high to quell
inflation
BERLIN, May 8 (Xinhua) -- European Central Bank (ECB) on Thursday
decided to leave its benchmark lending rate unchanged at a six-year
high of 4 percent, stressing that fighting inflation remains the
bank's primary objective.
"Inflation rates have risen significantly since autumn, owing
mainly to the increases of energy and food prices," said ECB
President Jean-Claude Trichet at a press conference on Thursday
after the ECB governing council meeting in Athens.
"Inflation rates are expected to remain high for a rather
protracted period of time, before gradually declining again," a
press release on the website of the ...