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ECB's Trichet Highlights Importance of Anchoring Inflation Expectations |
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European Economy |
Written by CEP News |
May 05 08 11:58 GMT |
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(CEP News) Frankfurt - In Basel, Switzerland at the bi-monthly meeting of central bank governors at the Bank for International Settlements on Monday, European Central Bank President Jean-Claude Trichet highlighted the importance of anchoring inflation expectations and avoiding second-round inflation effects.
Refusing to comment on the upcoming ECB rate decision, Trichet emphasized that he saw significant global inflation risks, as well as slowing economic growth in several countries. However, Trichet added that the global economy continues to display significant growth and that the financial situation was improving despite continuing money market tensions. "We see ongoing growth at a significant level but somewhat lower than in the previous year," Trichet said. Trichet also noted that emerging markets were confirming speculations of resilience. Speaking as chair of the G10 central bank governors meeting, the ECB President said that exchange rates were not discussed in Basel. By Todd Wailoo,
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