Sunday July 5, 12:29 PM
ECB's Trichet-monetary policy moves unlikely to spur inflation
AIX-EN-PROVENCE, France, July 5 (Reuters) - Monetary policy action taken by central banks is unlikely to spur inflation, European Central Bank President Jean-Claude Trichet said on Sunday.
'We need to, at the same time, act quickly and audiaciously when it is necessary...but at the same time make credible the medium and long term, make credible the fact that monetary policies are not going lead to inflation which I believe very probably is the case,' he said at a conference.
Central banks also needed to 'make credible the fact that budgetary policies will return to a medium and long-term balance which is satisfactory,' he said.
'If we don't do it, we will lose what is essential today, that is confidence.'
(Reporting by Anna Willard, Marie Maitre and Matthieu Protard; Editing by Tamora Vidaillet) Keywords: ECB TRICHET/INFLATION
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