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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: zonder who wrote (13484)10/15/2004 8:13:15 AM
From: mishedlo  Read Replies (2) of 116555
 
ECB´s Trichet says high oil price increases economic uncertainty UPDATE
Friday, October 15, 2004 12:02:41 PM
afxpress.com

ECB's Trichet says high oil price increases economic uncertainty UPDATE (Updates with further quotes on growth outlook, oil price)
FRANKFURT (AFX) - European Central Bank president Jean-Claude Trichet said the high oil price is increasing the uncertainties around the euro zone economic outlook, although the bank still expects the recovery to continue. "It is true that uncertainties are augmenting with the increase in the price of oil and the uncertainty on the future price of oil," Trichet told Bloomberg News TV in an interview

But he added: "The ongoing recovery is confirmed and it is our working assumption" Trichet said the euro zone economy has been growing at an annualised pace of around 2.1 pct for the last four quarters, and the ECB expects it to "continue at that pace"
[do these guys really believe this crap or are they just hoping? I would like to know that - mish]

He said the oil price is currently "too high" ."There is perhaps an overshooting that we are observing today, and I hope that all partners live up to their responsibilities," Trichet said
[This is rather vague. WTF is he talking about - mish]
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