- ECB, Constancio: Says growth in EMU as a whole will be above 2010.
Market news
2 May 2011
ECB, Constancio: Says growth in EMU as a whole will be above 2010.
- reiterates can only take decisions based on average EMY inflation;
- debt crisis hasn't derailed recovery;
- Greece can try to strengthen program credibility;
- privatizations have to be implemented, markets must be convinced;
- privatization will have big fiscal impact;
- core inflation is a good leading indicator of inflation but not advisable for it to be target;
- EMU rates still very low by historical standards;
- no decision to rusk into a series of hikes.
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