Author (Person) | Atkins, Ralph |
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Series Title | Financial Times |
Series Details | 8.7.11 |
Publication Date | 08/07/2011 |
Content Type | News |
On the 7 July 2011 the European Central Bank pressed ahead with its second interest rate increase in 2011, in spite of the escalating eurozone debt crisis, but it failed to give any clear signal whether a further rise would follow. In a move that put it further at odds with the US Federal Reserve and Bank of England, the main interest rate rose from 1.25% to 1.5%. Jean-Claude Trichet, President, cited 'upside risks' to inflation and the risk of price pressures becoming entrenched. Despite the increase, the ECB President pledged to help Portugal, whose credit rating was slashed in the same week. |
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Subject Categories | Politics and International Relations |
Countries / Regions | Europe |