Brendan Keenan: Interest rate rise is a risk for future of the currency
Published 04/03/2011 | 05:00
JUST when you thought it couldn't get any worse, the president of the European Central Bank utters the words, "strong vigilance".
This ECB contribution to the English language has in the past been the signal for an increase in interest rates. In fact, president Jean Claude Trichet abandoned code yesterday and talked in remarkably clear terms about a possible rate rise in April.
It is not yet a certainty but, so clear was the message, it would now take some rapid change in economic circumstances to prevent the ECB Governing Council voting through a quarter percentage point hike in four weeks' time.