|
Trichet: economy set fair
|
 |
January 18, 2000: 5:39 a.m. ET
French central bank chief dismisses worries about inflation
|
LONDON (CNNfn) - Bank of France Governor Jean-Claude Trichet predicted a rosy future for the European economy in an interview with CNN Tuesday, and dismissed fears of a dangerous rise in inflation.
Speaking on CNN International's World Business This Morning, Trichet said the European Central Bank, on whose governing council he sits, would remain "confident but vigilant," professing satisfaction that the coming year would show an improvement in the European economic cycle.
"We are very happy that the economy is clearly picking up."
He reiterated previous comments by ECB President Wim Duisenberg that Europe's central bank saw "no particular point for worry [on inflation]," and said the whole of the 11-country euro-currency zone is "fortunately picking up quite strongly."
Speaking on the French central bank's bicentenary, Trichet categorically denied any plans to take the top job at the International Monetary Fund after compatriot Michel Camdessus leaves at the end of February.
Trichet has consistently voiced his support for Europe's single currency, indicating he thinks it has strong potential to rise from its current level of around $1.01. He told CNN: "We're creating the best environment possible for steady growth."
The ECB will make its latest decision on interest rates Thursday, with many investors anticipating a rise over the next two months to combat the specter of rising prices. 
|
|
|
|
|
|
European Central Bank
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
