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Monday, January 12, 2009

Global Economy to slow this year, will recover on 2010


European Central Bank President Jean-Claude Trichet predicted that the year 2009 will be a gloomy year for global economy but will make a recovery comes 2010.


In general, central bankers were still keen to make sure inflation expectations remained solidly anchored, he said.

Trichet made no comment on ECB interest rates before a policy meeting on Thursday, when analysts expect the Governing Council to cut euro zone rates -- currently the highest in the Group of Seven -- by another 50 basis points to 2.0 percent.

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