Trichet leaves ECB rate unchanged

Rodrigo Davies, Bloomberg

There is currently “no significant evidence of underlying domestic inflationary pressure building up in the euro area”, Trichet said yesterday after the bank left the rate unchanged at 2%.

The Federal Reserve raised its target rate a quarter-point to 2.5% on Tuesday. Against the euro, the dollar strengthened to $1.2956 at 9:20am in New York, from $1.3027 late on Wednesday after the ECB announcement.