RTTNews - Monday, European Central Bank President Jean-Claude Trichet warned that there are still risks of a sudden emergence of unexpected financial turbulence.
Speaking in a conference in Madrid, Trichet said, We are in uncharted waters, and there are still risks of a sudden emergence of unexpected financial turbulence.
He said while there are first signs that the pace of economic weakening is decelerating, policy makers must remain alert.
Further, the central banker said bold yet solidly grounded response is needed to restore confidence among households and businesses.
He added that the ECB will ensure that inflation expectations remain impervious to short-term changes in inflation, even in the face of sharply falling inflation.
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