ecb speech, 2005-12-19
In the US, the policy stance changed and the decision to preannounce a measured increase in interest rates was made at a time when interest rates were at the very low level of 1 per cent and had stayed at that level for a considerable period and also at a time when it was assessed that inflationary pressures were building up on both the demand and the supply sides of the American economy.
Sentiment: neutral
Topic: mp_interest_rate