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European Economy |
Written by CEP News |
Jul 03 08 18:31 GMT |
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(CEP News) Frankfurt - As anticipated, the European Central Bank hiked its main refinancing rate to 4.25% on Thursday following record high inflation estimates and strong wage pressures. However, many economists are expecting deteriorating growth to impede any further rate increase in the near future. |
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European Economy |
Written by CEP News |
Jul 03 08 16:36 GMT |
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(CEP News) - Speaking on Ireland's RTE radio and German N-TV, European Central Bank President Jean-Claude Trichet repeated comments made on Thursday morning at the ECB's press conference after hiking the benchmark interest rate by 25 bps to 4.25%. |
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European Economy |
Written by CEP News |
Jul 03 08 16:10 GMT |
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(CEP News) - Speaking in an interview with ARD television in Germany, Bundesbank President Axel Weber said that the European Central Bank had signalled its intentions to guard the purchasing power of European consumers by hiking rates 25 bps to 4.25% on Thursday morning. |
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European Economy |
Written by CEP News |
Jul 03 08 16:04 GMT |
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(CEP News) - Following the cue from the European Central Bank on Thursday the Central Bank of Denmark hiked its benchmark interest rate by 25 bps to 4.60%. |
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European Economy |
Written by CEP News |
Jul 03 08 15:53 GMT |
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(CEP News) Frankfurt - The European Central Bank decided to raise its main refinancing rate 25 basis points to 4.25% in part to counter the medium term risks to price stability, ECB president Jean-Claude Trichet explained at his press conference following the rate announcement. |
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European Economy |
Written by CEP News |
Jul 03 08 14:38 GMT |
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(CEP News) Frankfurt - The oil crisis in the 1970s showed the importance of stable prices, European Central Bank President Jean-Claude Trichet said during his press conference on Thursday. |
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European Economy |
Written by CEP News |
Jul 03 08 14:22 GMT |
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(CEP News) Frankfurt - Following his introductory remarks, European Central Bank President Jean-Claude Trichet stressed that "absolutely everything is taken into account" when making monetary policy decisions. |
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European Economy |
Written by CEP News |
Jul 03 08 14:07 GMT |
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(CEP News) Frankfurt - During the Q&A session, European Central Bank President Jean-Claude Trichet dismissed the interpretation of "strong vigilance" and "heightened alertness" as code words and emphasized that the ECB would communicate its decisions clearly. |
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European Economy |
Written by CEP News |
Jul 03 08 13:51 GMT |
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(CEP News) Frankfurt - During the question and answer period following European Central Bank President Jean-Claude Trichet's monthly press conference, he acknowledged that economic growth in the second quarter of 2008 will likely not be as strong as the previous quarter. He also suggested that Q3 would not be very flattering as well. |
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European Economy |
Written by CEP News |
Jul 03 08 13:36 GMT |
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(CEP News) Frankfurt - During the Q&A period following European Central Bank President Jean-Claude Trichet's introductory remarks, Trichet stressed that the decision to raise rates was unanimous and that the central bank would do whatever was necessary to deliver on its mandate of price stability. |
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European Economy |
Written by CEP News |
Jul 03 08 13:20 GMT |
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(CEP News) Frankfurt - Speaking at a press conference following the European Central Bank's interest rate decision, ECB President Jean-Claude Trichet pointed to data confirming that the underlying rate of money and credit growth remains strong. |
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European Economy |
Written by CEP News |
Jul 03 08 13:14 GMT |
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(CEP News) Frankfurt - In a press conference following the European Central Bank's decision to raise its main refinancing rate 25 basis points, ECB President Jean-Claude Trichet emphasized that the central bank's monetary stance would contribute to its objective of price stability. |
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European Economy |
Written by CEP News |
Jul 03 08 13:01 GMT |
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(CEP News) Frankfurt - Explaining the European Central Bank's reason for raising its refinancing rate to 4.25%, ECB President Jean-Claude Trichet held a press conference and emphasized that it was imperative that medium-to-long-term inflation expectations remain anchored. |
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European Economy |
Written by CEP News |
Jul 03 08 12:49 GMT |
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(CEP News) Frankfurt - At a press conference explaining the reason behind the European Central Bank's decision to raise its main refinancing rate 25 basis points to 4.25%, ECB President Jean-Claude Trichet said that the decision was made to counter the medium term risks to price stability. |
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European Economy |
Written by CEP News |
Jul 03 08 12:40 GMT |
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(CEP News) Frankfurt - Following the European Central Bank's decision to raise its main refinancing rate to 4.25% on Thursday, ECB President Jean-Claude Trichet held a press conference and said that the decision to raise was taken to prevent second round inflation effects. |
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European Economy |
Written by CEP News |
Jul 03 08 11:55 GMT |
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(CEP News) - According to the Bank of England, second quarter lenders in the UK have reported a further reduction in the availability of credit to households and firms with further tightening expected over the next three months. |
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European Economy |
Written by CEP News |
Jul 03 08 11:45 GMT |
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(CEP News) Frankfurt - As expected, the European Central Bank's Governing Council raised its main refinancing rate 25 basis points to 4.25% on Thursday. |
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European Economy |
Written by CEP News |
Jul 03 08 11:06 GMT |
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(CEP News) - After the European Central Bank warned markets that "one small" rate hike could be in the works for July, market participants have aggressively priced in subsequent rate increases in addition to the 25 basis point increase expected at Thursday's rate decision. |
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European Economy |
Written by CEP News |
Jul 03 08 11:05 GMT |
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(CEP News) Frankfurt - Although many economists believe that rising inflation expectations will push the European Central Bank to raise rates at its upcoming meeting, they are not expecting any signals to be given at the following press conference that would commit the ECB in any one direction afterwards. |
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