Trichet on activism & alertness in monetary policy

In the speech 'Activism and alertness in monetary policy' given on 8 June Jean-Claude Trichet of the ECB said we are not in a position that we would judge "abnormal", in the sense that we would have to increase as rapidly as possible our interest rates up to the "normal" level.

"We are in a process of progressively withdrawing the present degree of monetary accommodation commensurate with the risks to price stability that we perceive, associated in particular with the present development of the

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