1.
U.S. markets recover from steep losses
BRUSSELS, Aug. 7 (UPI) -- The European Central Bank left its key interest rates unchanged Thursday at 4.25 percent, bank President Jean-Claude Trichet said in a news conference.
Trichet said it was "confirmed that annual inflation rates are likely to remain well above levels consistent with price stability for a protracted period of time."
This dynamic was "underpinned by continued vigorous money growth, with so far no signs of significant constraints on back loan supply," he said.
Trichet's remarks on continued inflation helped push the euro down, The Wall Street Journal reported.
After his comments, the euro fell to $1.5395, more than a U.S. penny below its high for the day, which was $1.5505.
But, Trichet said keeping interest rates unchanged will "preserve purchasing power in the medium term."
"Growth in the world economy, while moderating, is expected to remain relatively resilient, benefiting in particular from sustained growth in emerging economies," Trichet said.
|
|
|
|
|
|
| Additional Business News Stories | |
LINCOLN, Neb., May 24 (UPI) --
A law giving the governor of Nebraska the authority to approve oil pipelines passing through the state is illegal, three landowners say in a lawsuit.
|
NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
It is a whole new ball of wax in Europe these days.
|
| Stories | Photos | People | Comments |
View Caption
