More Trichet comments …

Written March 30, 2009 at 12:19 PM EST by  
  •  SHOULD SEE RECOVERY EMERGE IN COURSE OF 2010
  •  WILL PROBABLY SEE NEGATIVE GROWTH THROUGHOUT 2009
  •  2009 WILL BE VERY, VERY DIFFICULT YEAR
  • ABSURD TO SAY ONE NATION CAN CREATE AREA-WIDE PROBLEM
  •   EACH EURO-ZONE NATION RESPONSIBLE FOR OWN FINANCES

Trichet coming to the realization of  the economic issues including sharply lower inflation (well below 2%) and slower growth.  The ECB meets on Thursday and his comments seem to be in line with an additional cut in rates of 50 BP to 1%.  Before the report, the ECB Flash CPI estimate will be announced (0.7% Y/Y vs 1.2% last month) tomorrow.  On Wednesday, PMI Manufacturing for March (final) will be released (est 34.0) and the Unemployment rate for Feb is expected to come in at the highest rate since June 2006 (8.3% expected).

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