Trichet says euro zone growth slightly above potential rate |
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Published
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Thu, 29 Mar 2007 14:52
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MADRID (AFX) - European Central Bank president Jean-Claude Trichet said euro zone growth is running slightly above its potential rate.Trichet told a conference that the rate of growth in the euro zone is encouraging, but he added: 'Growth is probably slightly above its potential rate.'The ECB puts the euro zone's potential growth rate -- the maximum growth rate which the economy can sustain over the long term without generating inflationary pressures -- at around 2.0 pct annually, equivalent to a quarter-on-quarter growth rate of 0.5 pct.Euro zone GDP grew 0.9 pct in the fourth quarter of last year but economists expect growth to slow from this pace in the first quarter.steve.whitehouse@thomson.comafp/sw/cmrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Trichet sees risk of euro zone inflation spiral, ECB rates well below US rates 