ECB president’s comments on interest rate cause EUR to slip
For the first time since 2008 the European Central Bank tampered with europes interest rates in order to maintain stabilized prices, the ECB rose interest rates by 0.25% from 1% to 1.25% earlier this month; and now ECB's president Jean-Claude Trichet is speaking in interviews about the interest rate and inflation views. He quotes that ECB is attempting its strongest to minimize the effect that increasing energy and commodity prices could have by cutting into other prices. He also claimed that inflation levels have not yet reached the warning point, considered alarming.
Tirchet's comments affected the euro, causing it to downslide against the U.S dollar to a 4-day low at 1.4492 from a 1.4530 opening price.
