Trichet says inflation outlook faces upside risks
He said the ECB is ready to act in a "firm and timely manner" to counter these risks, but it cannot precommit to future rate moves.
"In the opinion of the ECB governing council the outlook for price developments in the medium term remains characterised by upside risks," he said in an interview with four European newspapers.
He said ECB monetary policy remains "on the accommodative side" and rates are still "moderate".
"Therefore acting in a firm and timely manner to ensure price stability in the medium term is warranted," he said in the interview with La Repubblica, the Irish Independent, Dnevnik of Slovenia and Spain's Expansion.
"Our policy is not to precommit in any respect to future action. We will do what is necessary, but we never unconditionally precommit," he said.
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