Trichet praises BoJ's communication

The Bank of Japan's communication with financial markets was "very, very good," European Central Bank President Jean-Claude Trichet said Monday 13 March. He also said independence was of "extreme importance" for the National Bank of Poland.
The Bank of Japan's communication with financial markets was "very, very good," European Central Bank President Jean-Claude Trichet said Monday 13 March. He also said independence was of "extreme importance" for the National Bank of Poland.

His comments came in a press conference after Trichet chaired a meeting of central bank presidents at the Bank for International Settlements in Basel.

Trichet said the markets seem to have smoothly digested the developments in Japan.

"Global financial markets have absorbed all this information quite well, to our understanding," Trichet said.

Trichet also said that the independence of the Polish central bank is of "extreme importance".

The head of the National Bank of Poland, Leszek Balcerowicz, has come under attack from legislators for his refusal to block the proposed merger of BPH and Pekao, the local units of Italy's UniCredito.

"The independence of the central bank of Poland is of extreme importance, that it has to be respected, and I hope very very deeply and profoundly that this independence will be respected in the time to come because it is an essential part of the appropriate functioning of the European Union," Trichet told the news conference.

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