Trichet says ECB's 2% rate is appropriate

European Central Bank President Jean-Claude Trichet defended the decision to maintain interest rates in the euro zone at 2% in a radio interview Friday 5 August describing them as "appropriate".

"We took the view that our current interest rates are appropriate and that, in view of our assessment of inflation pressure and price stability in the middle term, these rates are exactly what we need," he told French private radio Europe 1.

'I am not preparing the markets, in the name of the ECB counci

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