ECB's Trichet: Key Interest Rates Are Appropriate For Euro Area
11/17/2009 7:42 AM ET
(RTTNews) -
European Central Bank President Jean-Claude Trichet said in an interview to French newspaper Le Monde that the present key interest rates are considered to be appropriate for the euro area. Further, the central bank will progressively unwind non-standard measures, said Trichet.
Although the economy is coming out of the period of free fall, there remains a lot of uncertainty. "We cannot yet claim victory," Trichet said according to the interview published the ECB on Tuesday.
Trichet said, "The US authorities state that a strong dollar is in the interests of the United States. I totally agree with this analysis." "I believe that the that the strength of the dollar within the set of convertible floating currencies is in the interests not just of the United States, but of the entire international community."
Regarding fiscal policy, Trichet said all countries must have a budgetary strategy that is seen as being credible in the medium term by households, businesses and investors. He noted that some nations are in a relatively favorable budgetary position because their past management was wise and prudent, while others are already very close to losing their credibility.
by RTT Staff Writer
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