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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: regli who wrote (40522)	11/3/2005 10:29:26 AM
From: mishedlo	Read Replies (1) of 116555

ECB leaves rates unchanged Thursday, November 3, 2005 12:05:03 PM afxpress.com FRANKFURT (AFX) - The European Central Bank said it decided to leave its leading interest rates unchanged at today's governing council meeting Main refinancing operations will continue to be conducted as variable rate tenders with a minimum bid rate of 2.00 pct The deposit rate remains at 1.00 pct and the rate on the marginal lending facility at 3.00 pct. ECB rates have not been changed since June 2003, so this is the 29th consecutive month of unchanged rates. The decision was expected in financial markets although economists expect the ECB to start hiking rates before too long Headline inflation is well above the ECB's target, money and credit are expanding rapidly and surveys point to stronger economic growth The ECB adopted a stance of "strong vigilance" on inflation risks after the last council meeting on Oct 6, and ECB president Jean-Claude Trichet's news conference this afternoon will be closely watched for hints that the central bank is preparing to hike rates Some economists said there is a growing risk that the ECB will hike rates at the next council meeting on Dec 1

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