ECB rates appropriate says Trichet

ECB president Jeane-Claude Trichet said the ECB council believes its current interest rates are 'appropriate' and that membership of the euro is a win-win situation for member countries.

'We do not have any bias. I have said that I am not preparing markets for a rate cut. I am not preparing them for a rate increase. We remain vigilant, realistic and pragmatic,' Trichet said in an article in Le Monde newspaper.

He said he disagreed with critics who say that the ECB should have cut rates recently.

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