Trichet says ECB ready to raise rates when needed

European Central Bank president Jean-Claude Trichet said Thursday 3 November that the ECB stands ready to raise interest rates whenever this becomes necessary.

'We stand ready to move any time when it is required by our mandate and by the situation...we are very clear that we clearly could move any time,' Trichet told an ECB news conference.

Trichet said the ECB discussed the arguments for and against a rate hike and for and against leaving rates unchanged at the meeting.

Trichet also said Bank