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Trichet Backs EU's Central Bank Rate Hike
Currency System Trading By Philip White
Slang for a billion. Bank Rate The central bank is prepared to lend money to its domestic banking system at a certain rate. This rate is called "Bank Rate". Freebies Membership Forums Free Trading Tools FREE Currency Trading tools for any Forex Trade. Calculators, Charts and more...
Book Currency Trading (EUNN) London - European Central Bank President Jean-Claude Trichet backs raising interest rates saying that he will reiterate the need for higher interest rates when he addresses the European Parliament.
Not all the news was bad yesterday, as US growth numbers were positive, putting the onus on other Central Banks to evaluate possible rate hikes.
Beginner Currency Forex The European common currency, the Euro, has risen one percent already this year as currency traders bet on the ECB raising interest rates at least twice this year. Now that Trichet says he will emphasize the need to hike interest rates, currency traders may push the euro even higher.
Learn at your own pace and learn from the experiences of others who can provide insight, analyses, and information, and can help you steer clear of the pitfalls and traps awaiting new participants. Now is the time to expand your trading knowledge! Currency markets differ from other trading markets due to time zone liquidity, related issues, central bank activity, real and nominal interest rate differentials, and more. NOW is the time to learn and understand these factors as you enter the Forex market. Let's learn Forex trading
Currency Exchange Trading The ECB is looking to hedge inflation, not unlike the US Central Bank's new chief Ben Bernanke said the Federal Reserve must do to keep inflation in check in the United States by raising short-term interest rates at its next meeting in March.
The EUR extended gains vs. the USD yesterday after European Central Bank left interest rates unchanged at 4.0% as expected. Investors focused on the ECB President Trichet's comments where he stated that some governors at the bank would have supported a rate increase. The ECB President also added that the risk in financial markets is still evolving and is accompanied by continued uncertainty about the potential impact on the real economy. The EUR last traded 0.2% higher at $1.4627, after touching a session high of $1.4636.
Currency Software Trading The euro traded at $1.1941 in late morning but had been as high as $1.1976 earlier, which it hadn't reached that high since Feb 10th. The euro rose to 141.08 yen, from 140.95. The dollar was at 118.12 against the yen from 118.06.
Feb 2, 2005 (AXcess News) The Fed raised key interest rate a quarter of a point Wednesday which marked the Central Banks sixth rate hike for fed fund rates, bringing bank lending rates to 2.5 percent.The Fed fund rate increase came as no surprise to the market after the Central Bank' makers, led by Alan Greenspan, Chairman.
Currency Future Trading Trading might have been stronger for the euro if it weren't for the Presidents Day holiday in the United States.
Currency Fx Trading Currency traders are expecting thatthe ECBwillraiseinterest ratesa quarter point next month to 2.5 percent, narrowing the yield advantage of US securities.
Currency Exchange Foreign The yield on the three-month Euribor contract due March 2006 was 2.67 percent today.
Currency Day Forex Trading The dollar rose 14 percent against both the euro and the yen last year as the US Federal Reserve raised rates eight times while the ECB increased borrowing costs for the first time in five years in December and the Bank of Japan left rates near zero.
Currency Day Market Trading The cost of goods in Europe have been rising with Germany's producer price index at a 24-year high, according to a report released today. Germany is Europe's largest economy.
Currency Ireland Trading With prices rising, the European Central Bank will need to raise interest rates in order to keep inflation in check.
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