Inflation risk explains rate hike - Trichet

Speaking to journalists on Monday 6 March, European Central Bank president Jean-Claude Trichet said the ECB raised rates last week because of an increase in inflation risks in recent months.

'We considered that there was an increase in medium term inflation risks,' Trichet told journalists.

He said an increase in the ECB's projections for growth and inflation was 'one element' in the rate hike decision.

He said the ECB was also concerned that its survey of professional forecasters showed a rise

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