ECB rates still appropriate according to Trichet

ECB President Jean-Claude Trichet said on Sunday 16 October that European Central Bank interest rates were "still appropriate" and that second-round inflationary pressures from oil prices had not developed so far.

"As far as we are concerned we consider that our rates are still appropriate," Trichet said, underlining that he had used the word "still".

Trichet said high oil prices had lifted headline inflation above the reference level that the ECB uses as a measure of price stability, and that

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