ECB President Trichet, talking on Europe 1 radio, has said that while 2009 will be a very very difficult year, there may be moderate recovery in growth next year.
The official says the ECB has already taken many unconventional measures to aid recovery and is presently studying whether there is room for additional measures.
Trichet says the bank hasn’t decided whether current interest rates are the lowest possible, adding that the bank is credible on price stability and will remain vigilant. The ECB, according to Trichet, needs to find a balance between boldness of current measures and maintaining confidence.
Trichet says the euro is a strong asset in a crisis. EUR/USD has eased off in early European trade presently down at 1.3005 from an early 1.3045.
