(Bloomberg) -- Government bond yields rose to the highest in almost five years after European Central Bank President Jean-Claude Trichet today signaled interest rates need to go higher.
Bonds fell after Trichet said the current level of interest rates was fuelling economic growth. Policy makers left the benchmark rate unchanged at 3.75 percent today as expected by all 37 economists surveyed by Bloomberg. Bonds have fallen this week as traders added to bets that the ECB will lift rates as much as another half a percentage point this year.
Read more at Bloomberg Bonds News
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