FRANKFURT (Bloomberg) - European Central Bank (ECB) President Jean-Claude Trichet signalled he may raise interest rates again in coming months and will ease Portugal’s access to emergency funds as officials battle both faster inflation and the debt crisis.The ECB increased its benchmark rate by 25 basis points to 1.5 percent yesterday, the second increase in three months. The decision on Portugal came after Moody’s Investors Service sparked a renewed selloff in euro region bond markets, saying on July 5 the country may need a second bailout package.“Our monetary policy stance remains accommodative,” Trichet said at a press conference in Frankfurt. “It is essential recent price developments do not give rise to broad based inflation pressures over the medium term.”Policy makers are trying to balance the risks of further turmoil in debt markets against the danger that Germany’s export-led recovery will fuel a wage-price spiral. While the yield on Greek, Irish and Portuguese two-year bonds all exceed 15 percent, inflation across the region has breached the central bank’s 2 percent limit for the past seven months.Trichet said the ECB will suspend its minimum credit-rating threshold on Portuguese bonds after Moody’s lowered the country’s debt to junk. The suspension will be maintained “until further notice,” he said. This follows the ECB waiving minimum threshold for Greek and Irish bonds.“The Portuguese government has approved an economic and financial adjustment program which has been negotiated with the European Commission, in liaison with us, and the International Monetary Fund,” he said. “The Governing Council has assessed the programme and considers it appropriate.”