FRANKFURT, Germany -- The European Central Bank held its benchmark interest rate steady at 4 percent Thursday, as unemployment is dropping and inflation appears to be under control in the 13-nation region that shares the euro.
The decision followed a move by the Bank of England to raise rates by a quarter of a percentage point to 5.75 percent,.
Traders will be looking for signs from ECB President Jean-Claude Trichet about when to expect the next move. With markets traditionally quiet in August, analysts have suggested the ECB may raise rates again in September.
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