Trichet says further rate rises may be 'warranted'

European Central Bank president Jean-Claude Trichet said Thursday 3 August more interest rate increases may be "warranted" after the bank increased eurozone rates for the fourth time in eight months.

``We will continue to monitor very closely all developments so as to ensure risks to price stability do not materialize,'' Trichet told reporters in Frankfurt.

"If our assumptions and baseline scenario are confirmed, a progressive withdrawal of monetary accommodation will be warranted," Trichet sai