Growth prospects have brightened ... Against this background and due to the excess liquidity in the euro zone, which is a threat for price stability, the ECB will hike interest rates in 2006 to 2.75 per cent.

Growth prospects have brightened ... Against this background and due to the excess liquidity in the euro zone, which is a threat for price stability, the ECB will hike interest rates in 2006 to 2.75 percent.

Momentum in the economy is gathering pace and the ECB are likely to give quite a hawkish outlook in the press conference, which could trigger further bond losses. Today's rate increase certainly won't be the last.

We needed 20 percent economic growth in the third quarter to get rid of all of the excess capacity in the economy, ... The Fed is still going to be concerned about disinflation.

We needed 20 percent economic growth in the third quarter to get rid of all of the excess capacity in the economy. The Fed is still going to be concerned about disinflation.

Stockton continues to exhibit job growth well in excess of the state average, and unemployment is 1.3 percent lower than a year ago. Construction still leads all sectors in creation of new employment opportunities, despite signs of a return to normalcy in the housing sector.