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Thursday, November 05, 2009
Trichet: Inventory Cycle, Exports Boost Economy
By William L. Watts
MarketWatch Pulse
LONDON -- Re-stocking of depleted inventories, a recovery in exports and aggressive stimulus measures should provide support for the euro-zone economy, European Central Bank President Jean-Claude Trichet said Thursday at his monthly news conference. Trichet said interest rates remain "appropriate." As expected, the ECB left its key lending rate unchanged at a record low of 1%. Trichet said inflation expectations remain "firmly anchored" in line with the ECB's annual target near but just below 2%. Trichet said the economy is set to recover at a "gradual pace" in 2010, while risks to the economic outlook remained "broadly balanced."
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