INFLATION IS TOO HIGH, SAYS ECB’S TRICHET

THE euro rebounded against the dollar yesterday, after European Central Bank president Jean-Claude Trichet reiterated his concern over rising prices. “Inflation rates are now durably above the common definition of price stability in the Eurozone,” he said. The European single currency had slipped against the dollar earlier in the day, but Trichet’s hawkish comments saw it recover to above $1.41 (88p).
Picture: REUTERS