ECB rejects temporary price pressures argument; signals tightening

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The European Central Bank's (ECB) Thursday policy announcement, seen as having paved the way for a rate hike in April, has demonstrated the difference in conviction between the eurozone authority and other cental banks on the transience of commodity price increases, analysts say.

Jean-Claude Trichet, the president of the ECB, said in his opening statement on Thursday that "strong vigilance [was] warranted" against upside risks to price stability, a phrase that has in the past been used to herald

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