Comment: None the wiser

The ECB has raised interest rates as expected, but its explanations for the much-criticised decision reveal little on its motivations or the future path of rates.


With the 25 basis point increase in eurozone interest rates a fait accompli, the focus of Thursday's press conference in Frankfurt following the Governing Council meeting was the need to gain clarity on two issues. First, ECB president, Jean-Claude Trichet, needed to explain why the inflationary risks across the

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