Clouds darken ECB’s sunny northern skies

The European Central Bank has ruled out a further interest rate increase in June 2011, but could raise official borrowing costs later in the summer of 2011 in its battle against surging eurozone inflation, the bank’s president Jean-Claude Trichet indicated after the monthly meeting of the ECBs Governing Council, Helsinki, May 2011.

The European Central Bank (ECB) has held eurozone interest rates at 1.25% in May 2011.

ECB: Press Release, 5.5.11: Introductory statement to the press conference http://www.ecb.int/press/pressconf/2011/html/is110505.en.html

ECB: Press Release, 5.5.11: Monetary policy decisions, May 2011 http://www.ecb.int/press/pr/date/2011/html/pr110505.en.html

BBC News, 5.5.11: Eurozone interest rates held at 1.25% by ECB http://www.bbc.co.uk/news/business-13291934

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