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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Knighty Tin who wrote (20911)	1/10/2005 9:21:16 AM
From: mishedlo	Read Replies (2) of 116555

G10´s Trichet sees 2005 global growth around 4 pct, slowdown temporary Monday, January 10, 2005 1:02:07 PM afxpress.com G10's Trichet sees 2005 global growth around 4 pct, slowdown temporary BASEL (AFX) - G10 chairman Jean-Claude Trichet said global growth is likely to be around 4 pct in 2005. Speaking after a meeting of G10 central bank governors, Trichet said this will mean that growth remains "quite substantial" in 2005 even if it is lower than 2004. He said the soft patch in global growth seen in the third quarter of last year "may very well be temporary". He also said that the global economy has now largely overcome the impact of last year's rise in oil prices. "The oil impact is perhaps now largely absorbed," he said. And he said a renewed rise in the oil price is "not credible at this stage" [gee I am glad to hear that. Means there is room for a rise to $60 not to hurt too badly. renewed rise not credible... why? man these guys are begging for it - mish] Trichet said the G10 meeting did not discuss exchange rates. But he said that, as European Central Bank president, he "particularly noted" US Treasury Secretary John Snow's restatement of the US administration's strong dollar policy. He said Snow's comments were "important". [Snows commenst important! Is this a joke? mish]

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