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ECB keeps interest rates at 4 pct as expected

Latest update : 2008-05-08

The European Central Bank kept benchmark interest rates unchanged at 4.0 percent on Thursday, as expected, as policymakers weigh the risk of high inflation against concerns about euro zone economic growth.

THENS - The European Central Bank kept benchmark interest rates unchanged at 4.0 percent on Thursday, as expected, as policymakers weigh the risk of high inflation against concerns about euro zone economic growth.
 

ECB President Jean-Claude Trichet will present the Governing
Council's latest economic assessment at a news conference at
1230 GMT in Athens, where policymakers met for one of two annual
sessions outside the bank's Frankfurt headquarters.
 

He is likely to face questions on inflation pressures and
increasing signs that growth in the 15-country region is
stuttering.
 

All 83 economists polled by Reuters had expected rates to
remain on hold this month, although most predict cuts to 3.5
percent by the end of 2008 [ECB/INT].
 

Trichet said a month ago that inflation risks were to the
upside but the impact of the credit crisis was continuing while
economic growth worries remained.
 

The ECB also left its marginal lending rate, at which banks
can get emergency overnight loans, unchanged at 5.0 percent and
the deposit rate stayed at 3.0 percent.
 

Date created : 2008-05-08

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