ECB raises rates, sees further hikes ahead

European Central Bank president Jean-Claude Trichet said Thursday 8 June that the ECB is likely to raise interest rates again in future if the euro zone economy continues to recover.

After the ECB raised interest rates by 25 basis points to 2.75% he told a news conference that "further withdrawal of monetary accommodation will be warranted" if the recovery proceeds in line with the ECB's baseline scenario.

"This is the working assumption. We will do what is necessary when it is necessary," he s

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