ECB’s Noyer feels the global economy could start growing again between the end of this year and the middle of 2010.
Speaking in Hong Kong the official said “Certain indicators point to a deceleration of the slowdown in the second quarter” adding “various stimuli will progressively feed into the economy.”
However, Noyer did warn that rising unemployment could still affect consumption and hit growth prospects.
Noyer also opined that IMF SDRs cannot replace currencies for reserve purposes.
EUR/USD is trading a little easier, presently at 1.4025.
