At today’s meeting of the Governing Council of the European Central Bank (ECB), it was agreed that the bank's key interest rate would remain unchanged at 2.75%.
|European Central Bank President Jean-Claude Trichet|
The President of the ECB Jean-Claude Trichet, will comment on the considerations underlying the decision at a press conference starting at 1.30 p.m. Dublin time today.
Against a background of a strengthening recovery in the eurozone, and rising fears of inflation, Trichet is expected to signal that interest rates will rise at the end of August. His use of the term "vigilant" in reference to inflation risks, will be closely monitored.
The ECB will have a teleconference among council members on August 3rd and will meet again in Frankfurt on Thursday August 31st.
Finfacts will present a summary on the press conference when available, this afternoon.