August 20, 2008
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Quarter-point rise expected in Europe
The European Central Bank is widely expected to raise its main interest rate a quarter-point to 4.25 percent tomorrow to combat rising inflation in the 15-nation euro zone. ECB President Jean-Claude Trichet said at the bank's last monthly meeting, June 5, that it was in a state of "heightened alertness" on inflation and could raise the main rate "by a small amount." While Trichet has said his main objective is to keep prices stable in the euro zone, he has also recently suggested that repeated interest rate increases are probably not likely.
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