Euro ministers warn against rate hikes

Finance ministers meeting in Brussels renewed their calls for the European Central Bank to refrain from interest rates hikes. ECB chief, Jean-Claude Trichet met with the 12 eurozone ministers on Monday 7 November.

"Given the gradual recovery that we are in, we should take a steady-hand (policy) approach especially when core inflation is only 1.5 percent," Austrian Finance Minister Karl-Heinz Grasser said.

Trichet did not comment himself but financial markets were set on the idea that a rate rise

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