 Investors have to try to read Mr Trichet's thoughts |
The European Central Bank (ECB) has left interest rates unchanged at 2.25%, after falling oil prices eased inflationary pressures. Although the decision came as little surprise, investors said they would be listening for clues from ECB president Jean-Claude Trichet about rate policy.
Many investors are now expecting an interest rate rise to come in March.
Mr Trichet said that the market seems to have picked up the signals, or message, that the ECB has been sending.
He added that most data pointed to the fact that economic growth in the eurozone was showing signs of accelerating to its potential.
"In order to pave the way for another refinancing rate hike in March, the ECB would need to signal that another move was on its way in one of the next two press conferences," said Elga Bartsch, an economist at Morgan Stanley.
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