The European Central Bank has kept its main lending rate steady at 4.25 percent, despite growing pressure from the international banking crisis and slumping eurozone economies.
Worries that rising wages could stoke inflation helped convince ECB governors that the time was not yet ripe for a rate cut. The bank's president, Jean-Claude Trichet, said a cut was "considered", but rejected because it was still "crucial" to keep "inflation expectation in line."
(Deutsche Two more German banks admit exposure to Lehman failure ...
Composer Mauricio Kagel Dies at 76 in Germany ... Welle)
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