ECB keep rates at 4.75%, despite pressure

EUROPE - The European Central Bank on Apr 11 maintained interest rates at 4.75% because of inflationary pressures in the eurozone, but the central bank acknowledged that risks on the downside remained.

Asked at the press conference why the bank did not cut the rates if it was confident inflation would fall below two percent in the medium-term, ECB president Wim Duisenberg said it was not yet clear how pronounced the slowdown in inflation was going to be.

"It would be a close call," he said, ad

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