By William L. Watts
LONDON (MarketWatch) -- The European Central Bank's decision to lift its main lending rate by a quarter point to 1.25% was needed to help keep inflation expectations anchored, ECB President Jean-Claude Trichet said in his monthly news conference Thursday. Trichet said monetary policy remains "accommodative" and should continue to contribute to economic growth and job creation across the 17-nation euro zone. Trichet said the central bank would continue to monitor all developments "very closely" and that it remains crucial that rising inflation doesn't feed through to inflation expectations.
