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Tags: EU | Europe | Interest | Rates

Trichet Sees Uneven European Economic Recovery

Thursday, 14 January 2010 09:19 AM EST

European Central Bank President Jean-Claude Trichet says Europe's tentative economic recovery "is likely to remain uneven."

Trichet made the remark after the bank kept its main refinancing rate unchanged at a historic low of 1 percent at Thursday's meeting.

He said the economy's pickup at the end of last year came from stimulus measures that "are of a temporary nature."

Still, he said risks to growth and inflation in the 16 countries that use the euro were "broadly balanced," which suggests rates are not headed up any time soon.

Markets were also waiting for any comment he makes on Greece's budget woes, which have shaken the European Union.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Economy
European Central Bank President Jean-Claude Trichet says Europe's tentative economic recovery is likely to remain uneven. Trichet made the remark after the bank kept its main refinancing rate unchanged at a historic low of 1 percent at Thursday's meeting. He said the...
EU,Europe,Interest,Rates
108
2010-19-14
Thursday, 14 January 2010 09:19 AM
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