LONDON (MNI) – European Central Bank President Jean-Claude Trichet
said today he had been encouraged by the most recent economic data.
Trichet said the data have been “unexpectedley good.”
“Let’s remain prudent and cautious, but we had some news which was
better than expected over the recent period of time,” he said. “But we
know that the first quarter will not be flattering, particularly owing
to the weather,” he added.
Trichet also stressed that the ECB still regarded price stability
as its primary focus and that the Greek crisis would not distract it
from maintaining low inflation goal.
“We are inflexibly attached to price stability, it is our primary
mandate. It is what the people of Europe have asked of us and we are
credible in this respect,” the ECB chief said.
“At the end of the year, we will post average inflation over the
past 12 years of the euro which will be below 2%, but close to 2% –
exactly in line with the definition of price stability we gave 12 years
ago,” he said.
–London newsroom, +44-207-86-27492; ukeditorial@marketnews.com
[TOPICS: M$$EC$,M$X$$$,MT$$$$,MGX$$$$,M$$CR$]
