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Trichet: 'Strong vigilance' warranted on prices

Trichet: 'Strong vigilance' warranted on prices (by William L. Watts)

LONDON (MarketWatch) -- European Central Bank President Jean-Claude Trichet on Thursday said risks to price developments in the 17-nation euro zone are on the "upside" and that "strong vigilance" is warranted. The euro jumped in the wake of the remarks to trade at $1.3944 versus the dollar, a gain of 0.6%. The ECB earlier Thursday announced it had left its key lending rate unchanged at 1%, as expected. Trichet said risks to price developments are tied to rising prices for energy and other raw materials.

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Trichet: 'Strong vigilance' warranted on prices