European Central Bank President Jean-Claude Trichet said on Wednesday the bank could cut its main interest rate next week as long as there is evidence that inflation pressures have eased. "We will have a lot of new information and we did not exclude to decrease rates again if the upside risk to prices alleviate," Trichet said at a news conference.
When asked if fourth quarter economic data would be worse than the third
quarter data that confirmed the euro zone was in recession, Trichet said: "Next week we will have a lot of new information, we will have our own projections... "we will see when we have the figures."
Following China's 108 basis point interest rate cut Trichet said: "I am
sure what has been done by my colleagues in China has done is appropriate for the Chinese economy." "We are all striving for maintaining price stability which is a prerequisite for financial stability," he added.
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