Euro at a three-week high after Trichet promises an inflation-watchful ECB

30 June 2011, 8:10 | di FIRSTonline editorial team | 0

However, the president of the European Central Bank has warned that in the future prices in the eurozone will grow much faster than 2% per year

Euro at a three-week high after Trichet promises an inflation-watchful ECB

The euro hit a three-week high against the dollar after European Central Bank President Jean-Claude Trichet said the ECB would remain "very vigilant and ready to act to avoid inflationary pressures in the medium term." However, Trichet warned that inflation in the euro area "will remain well above 2% in the future", with oscillations "between 2,5% and 2,7% this year and 2,1% and 2,3% next year”. The euro responded by climbing 0,6% to a high of $1,4522.

FIRSTonline editorial team

FIRSTonline is an independent web journal of economics, finance and stock exchange published by AL Iniziative Editoriali Srl with registered office in Rome, founded and controlled by Ernesto Auci e Franco Locatelli and owned by two minority shareholders (Alessandro Pavesi and Laura Rovizzi). The portal and its applications are created in daily life by two agile editorial offices, one in Milan and one in Milan Roma, and by an innovative and effective team of innovation and web managers.