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European Central Bank President Jean-Claude Trichet jolted the markets Friday with the announcement that the ECB will gradually withdraw the emergency cash injections it has added to the financial system, in order to prevent an acceleration in inflation.

"Not all our liquidity measures will be needed to the same extent as in the past," Trichet said at a conference in Frankfurt Friday, Bloomberg News reported. "Any non-standard measure whose continuation would pose a threat to the achievement of price stability must be undone promptly and unequivocally."

Continue reading ECB Trichet's comments show central banks' delicate balancing act

ECB Trichet's comments show central banks' delicate balancing act originally appeared on BloggingStocks on Fri, 20 Nov 2009 17:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>europeeuropean central bankEuropeanCentralBankfrankfurtinflationjean-claude trichetJean-claudeTrichetFri, 20 Nov 2009 17:40:00 EST<![CDATA[Sensing inflation, ECB says interest rate cut unlikely]]>http://www.bloggingstocks.com/2007/12/19/sensing-inflation-ecb-says-interest-rate-cut-unlikely/http://www.bloggingstocks.com/2007/12/19/sensing-inflation-ecb-says-interest-rate-cut-unlikely/http://www.bloggingstocks.com/2007/12/19/sensing-inflation-ecb-says-interest-rate-cut-unlikely/#commentsFiled under: , ,

Almost on cue, the European Central Bank took a page out of U.S. Federal Reserve's playbook Wednesday.

In a widely-expected statement, ECB President Jean-Claude Trichet warned that the euro-zone's inflation surge was likely to last longer than expected, Bloomberg News reported Wednesday.

The comments came one day after the ECB made $500 billion in short-term loans available to banks to avert a year-end liquidity crunch. The $500 billion move was part of a coordinated effort among the world's major central banks to increase liquidity in the international finance system to head-off a potential credit crunch stemming from subprime mortgage and related asset defaults. Many economists and analysts expect the major central banks -- the ECB, the Fed, the Bank of England, the Swiss National Bank and the Bank of Canada -- to continue to sequentially add liquidity to the system through at least Q1 2008, and probably longer.

On Wednesday, Trichet said the euro-zone "faces a 'more protracted' period of elevated inflation than previously expected, indicating no imminent plan to reduce interest rates."

Continue reading Sensing inflation, ECB says interest rate cut unlikely

Sensing inflation, ECB says interest rate cut unlikely originally appeared on BloggingStocks on Wed, 19 Dec 2007 14:22:00 EST. Please see our terms for use of feeds.

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