European Central Bank President Jean-Claude Trichet, told a press conference in Frankfurt today, following the decision to keep the benchmark rate unchanged at 1%, that the ECB will scale back its emergency financing operations next year as the Eurozone works though an “uneven” recovery. However he said: “We again consider at the present moment that it is very important not to signal anything on the interest rates . And in that sense, if I may, the message from us is clear. We have the progressive timely gradual phasing out of the nonconventional measures. And that is something which only accompanies what we are observing on the market. We are not signaling anything in terms of hardening our monetary policy, absolutely nothing.”
Related posts:
- European Central Bank keeps benchmark interest rate on hold at 1.0%; Trichet, to address press conference
- Markets News Thursday: European Central Bank expected to keep benchmark interest rate at 1%; To outline steps on gradual withdrawal from emergency lending to Eurozone banks
- Markets: Trichet signals rise in interest rates in July; Changes for Greek bondholders must be ‘absolutely voluntary’
- Trichet may signal July interest rate hike as the Greek crisis remains focus of policymakers
- European Central Bank keeps benchmark interest rate at 1.50%; Bank of England keeps key interest rate at 1694-year low of 0.5%