Trichet Dashes Rate-Cut Speculation, Boosting Euro
European Central Bank President Jean-Claude Trichet dashed speculation he will cut interest rates soon and signaled he doesn't plan to halt the euro's surge against the dollar, Bloomberg reports:
``The current monetary-policy stance will contribute'' to curbing inflation, Trichet said at a press conference in Frankfurt today after leaving the key rate at a six-year high of 4 percent. He declined to step up his rhetoric on the euro, repeating his mantra that U.S. authorities favor ``a strong dollar.''
