Euro surges after ECB’sTrichet hints of rate rise next month

first_img Euro surges after ECB’sTrichet hints of rate rise next month Share Tags: NULL whatsapp THE euro jumped to a four-month high against the dollar yesterday, after European Central Bank (ECB) President Jean-Claude Trichet dropped hinted that interest rates could rise soon.Despite holding rates at one per cent for now, Trichet said “strong vigilance” was warranted, with the ECB “prepared to act in a firm and timely manner” to suppress inflation.In previous years the ECB has used the term “strong vigilance” in the month before a rate hike. “The re-financing rate looks almost certain to go up to 1.25 per cent on 7 April,” commented Ken Wattret of BNP Paribas. “It’s not quite a done deal, but barring a radical turn of events over the next month, the ground has been well and truly prepared for the move.”Trichet’s comments caused the euro to soar to more than $1.395.Data earlier this week showed Eurozone inflation running at 2.4 per cent in February, a 28-month high.The single currency area seems to be recovering well, according to other data released yesterday. GDP for the final three months of the year was confirmed at 0.3 per cent, with broadly based growth. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Thursday 3 March 2011 8:11 pmcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Show Comments ▼ whatsapp KCS-content last_img read more