ECB's Trichet on EMU and the euro

In the speech 'EMU and the euro: successes and challenges' given on 30 March Jean-Claude Trichet of the ECB said euro zone interest rates are expected to remain at historically low levels for a long period.

'Nominal and real interest rates have remained at low levels ever since the euro was introduced and are expected to stay at historically low levels over a long period of time,' Trichet said.

He added: 'This low level of interest rates is of course supportive of the economic recovery in the euro

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