Highlights - Trichet comments at ECB news conference

FRANKFURT (Reuters) - Following are comments by European Central Bank President Jean-Claude Trichet at a news conference held after the bank's Governing Council raised its benchmark interest rate by 25 basis points to 1.50 percent on Thursday.

ASKED IF ANY ECB COUNCIL MEMBER OPPOSED THURSDAY'S RATE RISE:

"We were unanimous."

MONITORING INFLATION RISKS VERY CLOSELY

"We will continue to monitor very closely all developments with respect to upside risks to price stability."

INFLATION

"Looking ahead, inflation rates are likely to stay clearly above in the coming months. Upward pressure on inflation, mainly from energy and commodity prices, is also still discernible in the earlier stages of the production process."

NO PRE-COMMITMENT ON FUTURE RATE DECISIONS

"We have no pre-commitment and you will see what we do when the time comes. No other comment on future decisions."

ECB SUSPENDS PORTUGUESE COLLATERAL REQUIREMENTS

"We have decided to suspend the application of the minimum credit rating threshold in the collateral ... requirements for the purpose of Eurosystem credit operations in the case of marketable debt instruments issued and guaranteed by the Portuguese government. This suspension will be maintained until further notice.

"And we took that decision taking into account the fact that the Portuguese government has approved an economic and financial adjustment programme, which has been negotiated with the European Commission, ... with us and the International Monetary Fund. The Governing Council has assessed the programme and considers it appropriate."

ASKED ABOUT VIEW OF FRENCH BANK PLAN FOR GREEK BONDS

"It is the responsibility of the governments of the executive branch and of the members of the euro group to discuss with the private creditors. We let them take their responsibility.

ASKED ABOUT ACCEPTING DEFAULTED BONDS FOR COLLATERAL

"We say "No" to selective default or credit event."

ASKED FOR VIEW ON COMPULSORY PRIVATE SECTOR CONTRIBUTION IN GREEK RESCUE

"The position of the Governing Council did not change and to my knowledge, the position of the euro group didn't change either."

RULES FOR BAILED OUT STATES

"The presumption of the international community is ... you are financing the adjustment with a view to going back to normal creditworthiness and normal market financing as soon as possible.

"What is not in the global doctrine ... is the idea that you are asking as soon as, on top of the IMF loan, there is a loan made or supplied by a neighbouring country or any country that you ask for restructuring ..."

POLICY ACCOMMODATIVE

"Interest rates across the entire maturity spectrum remain low; thus, our monetary policy stance remains accommodative."

LIQUIDITY REMAINS AMPLE

"The further adjustment of the current accommodative monetary policy stance is warranted in the light of upside risks to price stability. The underlying pace of monetary expansion is continuing to gradually recover while monetary liquidity remains ample with a potential to accommodate price pressures in the euro area."

LIQUIDITY OPERATIONS

"The provision of liquidity and the allotment modes for refinancing operations will be adjusted when appropriate, taking into account the fact that all the non-standard measures taken during the period of acute financial market tensions are, by construction, temporary in nature."

POLICY SUPPORTS ECONOMY, JOBS

"Our monetary policy stance remains accommodative, lending support to economic activity and job creation."

ELEVATED UNCERTAINTY

"While the underlying momentum of economic growth in the euro area continues to be positive, uncertainty remains elevated."

(Reuters Treasury Desk)