At tenders on Thursday the single European currency grew against the majority of world currencies. The euro rate was supported significantly by ECB decision on rates and ECB Head comments.

As well as it was supposed ECB Governing Council decided to raise the basic interest rates by 0.25 % at the meeting. The rate of refinancing is established now at a level of 2.50 %.

At termination of the meeting the European central bank President Trichet declared that despite the rate increase monetary policy would keep stimulating economic development of the region. He told that the bank watched closely the development of inflation and would do its best to support price stability.

In its turn, the British currency decreased against euro as the differential between rates in the UK and the Eurozone increases.

The economic data in the USA, published on Thursday, which were worse than the forecasts, put some pressure upon a dollar exchange rate.

As the US Department of Labor informed yesterday  the jobless claims were up 15000 for a week on February, 25th and made 294000.

Four-week average was up 5250 to 287250.

Economists forecast growth of initial jobless claims approximately on 285000.

The previous value has been revised from 278000 up to 279000.

The economic data of Eurozone were more favorable, that promoted euro rise.

According to Eurostat data the producer price index in Eurozone was up 1.2 % in January in comparison with the last month. These are the highest rates of price appreciation since 1985.

The last month prices were up 0.2 %.

Annual rates of inflation also accelerated - up to 5.3 % from 4.7 % in December. It is the highest level of annual inflation since December, 2000.

Results exceeded considerably the average economists’ forecast, who assumed that the prices were 0.8 % in comparison with the last month and up 4.8 % in comparison with the same period of the last year.

Retail sales in Germany were up 2,7 % in real expression in January concerning the last month, in comparison with the same period of the last year sale were up 1,7 %.

Indicators exceeded economists’ forecasts. They expected that sales would increase on 1 % m/m and would decrease on 0,4 % in comparison with the same period of the last year.

Results of retail sales in December were disappointing.

The sales volume in December was down 1.4 % m/m and down 1.6 % y/y.