1. Global Economic Watch
International Finance
March 3, 2011

2. Press Release
…the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged…

3. Recovery

4. Policy Stance

5. Inflation

6. Mandate

7. Discussion
Why the ECB decided to maintain short-term interest rates at the current levels?
Why is the ECB concerned about inflation?
Why many expect the ECB to raise short-term interest rates?