ECB holds rates steady

The European Central Bank held its key interest rate steady at 3.75% on 17 May, in the light of strong growth prospects but hinted that inflation is becoming a concern.

Analysts suggest that this has set the stage for an interest rate increase next month, taking rates to 4%, in the light of comments by ECB president Jean-Claude Trichet on the risk of higher oil prices and wage agreements.

The ECB last raised rates in March. According to reports, it now has the task of balancing the competing in

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