Trichet says inflation outlook faces upside risks

European Central Bank president Jean-Claude Trichet said in an interview published Monday 2 April the eurozone inflation outlook is still subject to 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