ECB Leave interest rates on hold at 3.75%
10 May 2007
10.05.07
As widely expected, the ECB left interest rates on hold at 3.75% at today’s meeting following last month’s decision of no change. April’s statement was very similar to prior communication and consequently, the money markets are pricing in a high probability of a hike in June. Thereafter, the outlook is slightly less transparent and consequently, the market will pay close attention to this afternoon’s statement for any indication on the committee’s thoughts surrounding monetary policy in the months ahead.
(Research Desk - Ben Parkinson)