Trichet: ECB must act before inflation develops

European Central Bank president Jean-Claude Trichet said in an interview the ECB must not wait for inflation to develop before taking action against it.

"We must not wait until inflation has taken a hold before fighting against it. Prevention is better than a cure," Trichet said in an interview with Paris Match magazine.

Trichet said the rate hike decision was a preventive measure to stop inflation from developing.

And he rejected criticism that the ECB should have waited for the economic recove