Nicolas Sarkozy questions interest rate hike

Jamaica News.Net
Sunday 6th July, 2008

French President Nicolas Sarkozy has asked questions about the European Central Bank's decision to hike interest rates by a quarter point to 4.25 percent.

He has asked a meeting of his supporters if the hike was "reasonable."

The ECB lifted its main interest rate on Thursday to a seven-year high of 4.25 percent in hope of putting a lid on record inflation.

Sarkozy said: “I have the right as president of the French Republic to wonder if it is reasonable to raise the European rates to 4.25 percent while the Americans have rates of 2.0 percent."

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