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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 | ContinuedE.U. Stocks Slide as ECB Gears Up to Fight Inflation with Higher Rates
European stocks were gutted yesterday (Thursday) as banks took heavy losses in the face of more hawkish inflation comments from European Central Bank (ECB) President Jean-Claude Trichet that put pressure on already struggling financials.
The Dow Jones Stoxx 600 closed down 2.6% to 288.48, the worst finish for the Eurozone index since October 2005. The FTSEurofirst 300 had a 2.5% drop, to close at 1,197.02 points, its largest one-day percentage drop since mid-March, Reuters reported.
Regional indices faired the same, as the Paris-based CAC40, London’s FTSE 100, Madrid’s IBEX 35 and the Frankfurt-based DAX all posted declines.
“Overall, there is unprecedented confusion as investors seek…
29Jun2008 | Money Morning | Comments Off | Continued
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