Trichet defends ECB's rate rise

European Central Bank President Jean-Claude Trichet told Der Spiegel magazine that the ECB's recent decision to increase interest rates would increase confidence and encourage investment in the eurozone.

"Stable prices secure the purchasing power, enhance confidence, strengthens medium and long-term market interest rates at lower levels and encourage investments," he said.

All these, he added, are "good for growth and for job creation."

He said the 1 Dec move to increase interest rates would hel

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