Jean-Claude Trichet promised inflation
The European Central Bank (ECB) yesterday decided to leave the key policy rate unchanged at 1%. The bank last changed the rate on May 7, lowering it by 0.25 percentage points to a historical low. ECB President Jean-Claude Trichet said yesterday that the current level of interest rates is adequate. According to his forecasts, the recession in the eurozone will continue, the economy will remain weak, but the rate of decline will slow down. Recovery in Europe will begin in mid-2010, says Mr.