Bank Official: Global Economy to Grow

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00001580-bank-official-global-economy-to-grow/

The world economy has largely absorbed the effects of high oil prices and will likely grow 4 percent this year, despite concerns about the weak U.S. dollar, the president of the European Central Bank said Monday.

Jean-Claude Trichet hailed as an “important contribution” comments Friday by U.S. Treasury Secretary John Snow that President Bush’s administration continues to support a strong dollar.

“Global observers have taken that very seriously, and we do too,” Trichet told reporters.

The U.S. dollar’s weakness has spurred global economic jitters.

Trichet spoke following a meeting with counterparts from the Group of 10 association of top central bankers at the Swiss-based Bank for International Settlements. The BIS is known as the “central bankers’ central bank.”

For this complete story, please visit Bank Official: Global Economy to Grow.

Bank Official: Global Economy to Grow

Unknown Author

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