Trichet: "Strong vigilance" needed on inflation *PIC*

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Trichet: "Strong vigilance" needed on inflation (by Polya Lesova)

LONDON (MarketWatch) -- European Central Bank President Jean-Claude Trichet said Thursday at a press conference that "strong vigilance" was warranted to contain inflation risks and that the bank will "act in a firm and timely manner." The remarks suggest that a rate hike is likely in July. Trichet had been broadly expected to use the term vigilance to signal a rate hike. As Trichet spoke, the euro turned lower against the dollar, dropping 0.4% to $1.4536.

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Trichet: "Strong vigilance" needed on inflation *PIC*

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