Data boost case for ECB to hold rates

Unemployment in the eurozone in July 2011 had risen for a third consecutive month while inflation in August 2011 had stabilised, according to Eurostat data published on the 31 August 2011 strengthening the case for the European Central Bank to keep official interest rates firmly on hold during the autumn of 2011.

Eurostat: RAPID: Press Release: STAT/11/124: July 2011 Euro area unemployment rate at 10.0% EU27 at 9.5% http://europa.eu/rapid/pressReleasesAction.do?reference=STAT/11/124&format=PDF&aged=0&language=EN&guiLanguage=en

Eurostat: RAPID: Press Release: STAT/11/123: Flash estimate - August 2011 Euro area inflation estimated at 2.5% http://europa.eu/rapid/pressReleasesAction.do?reference=STAT/11/123&format=PDF&aged=0&language=EN&guiLanguage=en

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