Trichet steps up inflation rhetoric, hints at hike

Jean-Claude Trichet, the president of the European Central Bank, indicated that the institution's governing council could raise rates as soon as next month despite continuing turmoil in financial markets.

The central bank's Governing Council opted to hold rates for the 12th straight meeting on Thursday but Trichet said after the decision that it could back a small rise at the next one on 3 July "in order to secure the solid anchoring of inflation expectations, taking into account the situation."

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