Trichet says that if they cut at the next ECB meeting it will be because inflation risks have eased. Given the collapse in asset prices and in commodities, it’s easy to make the case that inflation has fallen.
Elsewhere, French finance minister Lagarde says told Bloomberg the G7 will not intervene to sell Yen but would support Japanese intervention if they undertake it alone. Way to take the air out of the ball, Christine baby…
