25 BP as expected

The ECB raised interest rates 25 bp to 3.5% as expected today. Also Trichet was quite hawkish on the future of interest rates in the region. The ECB was unanimous in todays rate decision.
Trichet was adament that price stability was tops on his list. That they were constantly alert to inflation risks. All in all I would be looking for more rate rises into next year.

Other Rate announcements today

U.K. No change (.0%)
South Africa +50bp (9.0%)

FXTRADINGIDEAS@AOL.COM