Friday, Jean-Claude Trichet, President of the European Central Bank said authorities should do all possible things to restore confidence and support growth.
Regarding the ECB meeting on May 7, Trichet said in a speech in Tokyo that it is important not to create or encourage expectations. He stated, Be sure that what we will decide will fully take into account the financing structure of the euro area economy and will be fully in line with our medium-term strategy.
Further, he said ambiguity in policy direction will delay recovery.
Earlier in the month, the Governing Council member of the ECB, Axel Weber said there is still a little room to cut the main refinancing rate, but it should not go below 1%.
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