FRANKFURT, Germany -- The European Central Bank and the Bank of England each left their key interest rates steady on Thursday. The ECB left its benchmark interest at 4 percent, while the Bank of England held at 5.25 percent.
Traders will be looking for clues from ECB president Jean-Claude Trichet later Thursday about how he views the effects of the rising euro, record inflation in the 15-nation euro zone and whether fears of a U.S. recession may cause the bank to lower its rates later this year.
Inflation in the euro zone has been at a record of 3.2 percent since the start of the year and the ECB's own staff will present their forecasts at the meeting.
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