Economists expect ECB to need to keep interest rates low

European Central Bank
A Bloomberg News survey of 17 economists found that 12 expect the European Central Bank to maintain its key interest rate throughout 2011. Jean-Claude Trichet will retire as president of the ECB in October as the euro area struggles with fallout from the sovereign-debt crisis, low inflation and moderate economic growth. "Problems in the banking sector won't be resolved quickly, and banks in peripheral countries will continue to need support," said Juergen Michels, chief euro-region economist at Citigroup. "There won't be any major inflation pressures that would warrant a rate increase before 2012." Full story here