Trichet sees no cut in eurozone interest rates

European Central Bank president Jean-Claude Trichet has ruled out a cut in eurozone interest rates but suggested that the cost of borrowing was unlikely to rise either, saying inflation was under control.

"Our position is very, very clear... a decrease of rates is not an option," he told a press conference following a meeting of finance ministers and central bankers from the Group of Seven (G7) rich nations in Washington at the weekend.

"We consider the present rates are appropriate and in line