Interest rates on hold as Trichet lauds Irish action

IRELAND is gaining further credibility, according to European Central Bank (ECB) chief Jean Claude Trichet, who yesterday signalled that interest rates are on hold for now.

Mr Trichet said Ireland was “following its path and has demonstrated a capacity” to implement the measures needed to regain its strength.

He said when he looks at Ireland he sees a country which is gaining credibility regularly and is increasing its creditworthiness.