ECB warns of disruptive forex moves as rates held

first_img ECB warns of disruptive forex moves as rates held Sudden swings in foreign exchange rates pose a threat to economic growth, European Central Bank President Jean-Claude Trichet said yesterday after the ECB kept rates on hold at one per cent.In his strongest comments on currency volatility in almost a year, Trichet said exchange rates should reflect economic fundamentals, a pointed reference to countries intervening to keep their currencies low. The central bank head also predicted economic recovery in the Eurozone would continue in the second half of the year and said lower bank demand for ECB liquidity suggested money markets were beginning to function more normally.That trend has pushed money market interest rates higher and put the ECB on a different path to other major central banks. Analysts expect the rift to put pressure on the euro to appreciate. Tags: NULL Thursday 7 October 2010 7:54 pm whatsapp Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap KCS-content center_img Show Comments ▼ whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldlast_img