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Inflation Could Explode If ECB Fails to Act Decisively, Says Trichet |
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European Economy |
Written by CEP News |
Jul 02 08 09:43 GMT |
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(CEP News) Frankfurt - In an interview with Germany's Die Zeit newspaper published on Wednesday, European Central Bank President Jean-Claude Trichet emphasized that inflation could "explode" if the ECB failed to act decisively.
On June 30, Eurostat preliminary estimates indicated that inflation in the euro zone reached a record 4.0% in June. Trichet provided his comments to Die Zeit ahead of the ECB's Governing Council meeting on July 3. Many economists and market participants alike are expecting the central bank to raise its main refinancing rate by 25 basis points to 4.25% at the upcoming meeting. By Todd Wailoo,
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