This month, the European Central Bank all but promised a rate increase when its governing council meets on April 7. There is no sign, however, that the earthquake in Japan and its aftermath have dissuaded policy makers from their view that rates must rise to pre-empt inflation.
Economists say that the direct economic effects of Japan’s disaster on Europe are not huge. But they warn that the prospect of a nuclear crisis, along with continued fighting in Libya and high fuel prices, could further unsettle consumers.
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