The European Central Bank has announced it will keep interest rates for the 15-nation euro bloc unchanged for the 11th month in a row. Speaking from Athens, the Bank's president Jean-Claude Trichet said the decision to maintain the 4% rate was intended to help achieve price stability.
Inflation in the euro-zone is well above the ECB's two percent ceiling and is starting to affect consumer confidence. Trichet warned that inflation would remain high in the immediate future against the backdrop of unsteady markets.
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