Brussels, 02/08/2007 (Agence Europe) - On Thursday 2 August, the European Central Bank (ECB) decided to keep the eurozone interest rates unchanged. The minimum bid rate on the main refinancing operations, and the interest rates on the marginal lending facility and the deposit facility, will remain unchanged at 4.00%, 5.00% and 3.00% respectively. The ECB made a surprise move, however, by holding a press conference after the meeting to explain its short-term plans (see EUROPE 9462), unusual for this time of year when Governing Council members tend to meet by videoconference. Last year, the ECB agreed to hold a press conference when it increased interest rates. This time, it organised a press conference to prepare the financial markets for an expected tightening of the monetary belt in September when it announces its new growth and inflation forecasts. The ECB will remain 'strongly vigilant' over price volatility, explained ECB President Jean-Claude Trichet to reporters on Thursday. The word 'vigilant' tends to be used to indicate that a rise is in the offing, suggesting that as expected by the markets (pundits expected a rise in September or October) the ECB may increase interest rates in September for the second time since December 2005. Inflation in the eurozone stood at 1.8% in July, in line with ECB targets, but is expected to rise sharply towards the end of the year due to higher than expected oil price and salary rises which, as Trichet explained, were still the main risks to price stability. (ab)