So, as well as overwhelming majority of experts forecast yesterday ECB raised the basic interest rate by 0.25 % up to 2.5 %. Members of ECB Governing Council informed that the forecast on inflation in the region for current and next years was revised.

So, in opinion of Council members the harmonized consumer price index this year will make 1.9-2.5 %. And in 2007 the average level will also make 2.2 %.

Gross domestic product of Eurozone, according to the forecast, will be up 1.7-2.5 % in 2006, up 1.5-2.5 % - in 2007.

Besides ECB Head Jean-Claude Trichet declared that the rate rise reflected the increased risks of inflationary pressure. However ECB Head added at once that the policy of the bank would stimulate economic growth and still remained soft. Trichet emphasized that a series of rate increases was out of question.

Economic activity and financial conditions in the region continue to improve and in the near future rates of economic growth should be accelerated he has told.

"The situation in a labor market improves. Risks for economic growth - global imbalances and oil prices. HICP will possibly be above a mark of 2 % soon", - Trichet told.

"We will continue to watch closely a situation", - Trichet said. "Risks of inflation growth prevail over risks of reduction. The market knows that it is a main driver of ECB monetary policy", - EFCB Head noticed.

Let's remind that the last time the rate was increased by 0.25 % on December, 1st, 2005  and now, in experts’ opinion, the next increase can happen in June of this year.

Except for positive statements of ECB Head Jean-Claude Trichet, the European currencies against dollar were supported  by data of the US Department of Labor. We shall remind that for a week, ended on February, 25th, 2006 jobless claims rose from 279.000 a week earlier up to 294.000.

According to preliminary data the indicator of the last week made 278.000. Thus economists expected on the basis of initial data that initial jobless claims would raise up to 285.000.

The average number of new jobless claims for four weeks on February, 25th rose up to 287.250 from 282.000 a week earlier. Previously it was informed on 281.750.

However, as a result, the total number of jobless in the USA for February, 18th made 2,486 million in comparison with 2,488 million a week earlier. Previously it was informed on 2,495 million.

As a result the indicator became minimal since February, 10th, 2001 when it made 2,431 million.

Besides a constant factor of pressure is a situation in energy market. We shall remind that despite positive data of the review of the American stocks on Wednesday oil quotations continue the growth the third day in a row.

Let's notice that data on energy stocks in the USA showed a great petroleum demand, which for last four weeks was up 2.5 % in comparison with the same period of the last year.

In analysts’ opinion the reason for anxiety of the market’s players became a situation with falling petroleum manufacture and also alarms because of reduction of oil deliveries from Nigeria and Iran. The market is also supported by new threats of attacks of militant on oil objects of Nigeria where 20 % of manufacture have been already closed.

As a result the American light oil with delivery in April grew up to $62.42 for barrel, having climbed earlier up to a level of $63.00 for barrel.

Today at 14:45 GMT it is necessary to pay attention to final value of University of Michigan Consumer Sentiment Index in the USA for February. The forecast 87.4, the previous value 87.4.

And at 15:00 GMT - Institute for Supply Management index in the USA for February. The previous value 56.8.

We recommend following our last recommendations. Opened dollar/franc "longs" from levels 1.2980 should be kept, the further drop in the rate will allow to strengthen long positions from a level 1.2800.

The situation with the dollar/canadian rate remains dependent on oil market. Therefore it is necessary to hold a waiting position.