04 May '11, 4am

Economists debate when next ECB rate hike will come

Economists debate when next ECB rate hike will come

FRANKFURT: Analysts agree the European Central Bank will keep its key interest rate at 1.25 per cent on Thursday but differ on when the next hike will be, though all say it will come once the ECB utters the "V" word. "'Vigilance' remains the only magic code word," ING senior economist Carsten Brzeski said, a view shared by all as the bank's governing council prepared their meeting in Helsinki. RBS analysts said: "We expect ECB president (Jean-Claude) Trichet to use the phrase 'strong vigilance' at Thursday's meeting to signal the governing council will raise rates at the June meeting." For Citi economist Juergen Michels, "it is a close call if the next move will be in June or July," but in either case would be signalled by use of the phrase "strong vigilance" with respect to inflationary pressures. Economists are also divided on how high the main interest rate could rise t...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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