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January 15, 2010

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ECB Head Sees Uneven Recovery

EUROPEAN Central Bank President Jean-Claude Trichet says Europe's tentative economic recovery "is likely to remain uneven."

Trichet made the remark after the bank kept its main refinancing rate at a historic low of 1 percent at yesterday's meeting. He said the economy's pickup at the end of last year came from stimulus measures that "are of a temporary nature."

Still, he said risks to growth and inflation in the 16 countries that use the euro were "broadly balanced," which suggests rates are not headed up any time soon.


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