At the meeting on Thursday, October 8, the European Central Bank kept key rates steady at 1.00%. Such an outcome predicted by most meetings of market participants. At a press conference after meeting European Central Bank President Jean-Claude Trichet said that the level of rates consistent with current conditions.
ECB President said that the data available to the Board of Governors, "continues to signal the stabilization of economic activity." In Europe, this contributes to the restoration of exports, a significant macro-economic incentives and measures taken to restore the financial system. "In general, the recovery will be uneven," - said Trichet.
In general, the risks are balanced. Basically, they relate to economic activity and the movement of commodity prices. On the one hand, intensive macroeconomic incentives can have a greater impact than projected. On the other hand, there is the possibility of "resumption of growth in prices for oil and other commodities, the intensification of protectionist pressures and disorderly correction of global imbalances."
ECB President said that the data available to the Board of Governors, "continues to signal the stabilization of economic activity." In Europe, this contributes to the restoration of exports, a significant macro-economic incentives and measures taken to restore the financial system. "In general, the recovery will be uneven," - said Trichet.
In general, the risks are balanced. Basically, they relate to economic activity and the movement of commodity prices. On the one hand, intensive macroeconomic incentives can have a greater impact than projected. On the other hand, there is the possibility of "resumption of growth in prices for oil and other commodities, the intensification of protectionist pressures and disorderly correction of global imbalances."
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