July 7, 2011
The European Central Bank is almost certain to raise interest rates later on Thursday and will show no let-up in its insistence that governments solve Greece's debt crisis without triggering a default credit rating.
Financial markets see a quarter-point rise in the ECB's benchmark rate to 1.50 percent as a virtual certainty after the bank's recent reiterations that it is in a mode of "strong vigilance" -- code traditionally used to signal a hike.
The ECB's Governing Council began meeting at 0700 GMT to weigh its policy options. The bank will announce its rate decision at 1145 GMT and ECB President Jean-Claude Trichet holds a news conference at 1230 GMT.
More
No comments:
Post a Comment