FXstreet.com (Barcelona) - The European Central Bank Monetary Policy Committee has decided to keep interest rates on hold at 4% after their monthly policy meeting.

The European Central Bank, as usual did not give any further explanation, so all the eyes are set on the press conference Mr. Trichet will hold at 13:30 GMT for a picture about the Bank's monetary policy once that inflation would have increased to the level of 3.0%, well above the 2.0% upper boundary of the Bank's margin of price stability.