Looks like borrowers can breathe a brief sigh of relief in the run-up to Christmas, following today's ECB meeting. At the meeting, the ECB decided to leave interest rates alone for November and gave no hints that they would be increasing rates in December.
Interpreting the hidden meanings of ECB President, Jean-Claude Trichet's speeches has become something of a science in recent years. Imminent rate increases have been flagged by use of the words "strong vigilance" in the preceding month. There was no mention of "strong vigilance" today, which would seem to indicate no rate rise in December.
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