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ECB's Trichet Sees High Uncertainty, Downside Risks To Growth |
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European Economy |
Written by CEP News |
May 08 08 13:32 GMT |
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(CEP News) Frankfurt - Following the European Central Bank's Governing Council meeting on Thursday, ECB President Jean-Claude Trichet said that while the euro zone economy showed sound fundamentals, he also noted moderating real GDP growth, adding that he saw high levels of uncertainty and downside risks to growth.
Data confirms slowing but ongoing growth, Trichet said, noting that the economy does not suffer from any major imbalances. Additionally, Trichet highlighted that GDP would be supported by foreign, as well as domestic, demand. However, the ECB president also said that higher-than-expected inflation posed a risk to the economy, adding that economic sentiment was softening. By Todd Wailoo,
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, edited by Nancy Girgis,
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