Comment: Developments in July
COMMENT BY CENTRALBANKNEWS
As expected, the ECB left rates on hold on 6 July. But the president of the ECB, Jean-Claude Trichet, announced after the meeting that the central bank will take the highly unusually step of meeting in person on 3 August, rather than conduct the scheduled conference call. In doing so, observers argue, Trichet effectively pre-announced a rate hike on 3 August. Some even suggest that the
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