From: The Economist
The European Central Bank likes to prepare the ground for its interest-rate moves.
The rise was the ECB's second this year. The first move had been in April—after being signalled in March—when the bank raised the main rate from 1%, the low it reached during the great recession, in May 2009 (see chart). The rate increase put the ECB still further ahead of the game among the central banks of the largest advanced economies. Mr Trichet signalled that further rate rises are likely, by saying that the current monetary-policy stance remained “accommodative”.
Read more: http://www.economist.com/blogs/schumpeter/2011/07/euro-zone
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