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Thread: European news euro Central Bank chief hints at delay in rate rise

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    Piplet
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    Default European news euro Central Bank chief hints at delay in rate rise

    European Central Bank chief hints at delay in rate rise


    Ashley Seager
    Tuesday August 28, 2007
    The Guardian

    The fallout from the past weeks of turbulence in financial markets continued yesterday as European Central Bank chief Jean-Claude Trichet hinted that the bank's planned interest rate rise on September 6 may not now go ahead.

    The ECB has joined the US Federal Reserve in the past three weeks by injecting billions of euros of liquidity into credit markets which threatened to seize up the banking system. Yesterday Mr Trichet, speaking after news of the rescue of a small German bank stricken by losses in the US sub-prime mortgage market, said his previous hints of a rate rise were made before the current problems. He said the central bank would wait until its next policy meeting on September 6 before deciding what to do next.

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    subprimer and many more problems like credit, are probably gonna hit harder europe rising baby economy than usa one, for the short term ecb seems like gonna hold rates, dollar is gonna be benefited for short term since is still safe heaven. so....

    probable we can see 1.32 levels again soon.

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