Central Bank Remains Silent as the Euro Rises.

Reports that the European Central Bank has decided not to put a lid on the euro as yet. The euro which is rising against the dollar and thus hurting exports to the United States; Bank president Jean-Claude Trichet who has declined to comment on the possibility of intervention; Decision of the bank to keep interest rates the same; Lowering of the 2005 growth forecast for the 12-nation zone; Raising of the inflation forecast for the coming year; Reasons for the cautious approach.