Trichet doesn’t back down

ECB Pres Trichet speaking in Brussels is basically clinching an April 7th rate hike by repeating that risks to their price outlook are to the ‘upside’ as ‘inflation is on the rise.’ As he said he had nothing to add to his March 3rd statement, where he set the groundwork for a hike, it’s clear that the disaster in Japan and its impact on global growth won’t alter the ECB’s fight against commodity inflation. China and India are of the same mindset on the belief that price stability is the precursor to healthy economic growth.

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