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Jean-Claude Trichet: Debt, Stimulus & Inflation In The Eurozone…
If inflation had an arch-enemy, it would be Jean-Claude Trichet.
Since assuming his position as president of the European Central Bank (ECB) in November 2003, the Frenchman has made inflation-fighting his M.O.
Trichet and his fellow ECB board members have a steely resolve to keep the 16-nation Eurozone’s inflation rate as close to the bank’s 2% target as possible. And although inflation isn’t a problem at the moment, many believe it’s only a matter of time before it will be. So inflation-fighter Trichet has made a pre-emptive call for restraint.
In an interview with Europe 1 radio, Trichet said that with many European…
24Jun2009 | Smart Profits Report | 0 comments | ContinuedECB Holds Rates Steady, but Growth Concerns are Beginning to Supplant Fears About Inflation
After boosting its benchmark interest rate by a quarter point on July 3, the European Central Bank (ECB) may be forced to reverse course and cut rates sooner than it planned, as slow growth is beginning to trump concerns about inflation.
The ECB left its key rate unchanged at 4.25% yesterday (Thursday). ECB President Jean-Claude Trichet said that while growth will be “particularly weak” in the second and third quarters, inflation is also “likely to remain well above levels consistent with price stability for a protracted period of time.”
“Risks to price stability over the medium term remain on the upside,”…
8Aug2008 | Money Morning | Comments Off | Continued
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