Trichet says intervention is central bank 'weapon'

- Central Banking staff
- 02 Dec 2004

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The Governing Council of the ECB decided to keep eurozone interest rates unchanged at its meeting on Thursday 2 December. Speaking at the post-meeting press conference ECB president Jean-Claude Trichet said the euro's recent appreciation, which pushed the currency to a record against the dollar last week, is "unwelcome" and intervention in currency markets was a "weapon" central banks can use.

"We consider the recent (euro) moves are unwelcome," he told the news conference after the ECB

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