Trichet reports upside risks to inflation outlook

European Central Bank President Jean-Claude Trichet said Thursday 1 September that upside risks to price stability exist but there is no significant evidence of a build-up in underlying inflationary pressures.

In a news conference after the ECB kept its rates unchanged, Trichet said its monetary policy stance remains 'appropriate', given the current outlook for inflation rates over the medium term.

'At present our judgement is that, although upside risks to price stability exist, we continue

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