ECB unlikely to raise interest rates until March
Rates have been raised from 2% in late 2005 to 3.5% by December last, in what has been described as a process of normalising the level of official interest rates in the eurozone.
Based on recent comments from numerous ECB officials, it is clear that rates have not yet peaked in the eurozone. The ECB still regards monetary policy as accommodative and speeches by ECB officials have consistently highlighted the fact that the level of official rates remains low.
