European Central Bank President Jean-Claude Trichet talks about the bank’s decision to cut its benchmark interest rate to 3.25 percent, the prospect of further reductions and the outlook for the euro-area economy. Trichet said he can’t rule out a further reduction in interest rates after today’s half point cut because the global financial crisis may lead to an extended economic slump.
00:00 Decision to cut rates by 50 basis points
00:52 “Substantial” alleviation of inflation risks
01:38 Confidence is “what is lacking the most”
02:11 Interest rates “good” for price stability
02:39 Next meeting of ECB policy makers
03:27 Options considered; next rates meeting
04:44 Global financial turmoil, ECB’s response
06:42 Euro-zone economic growth projections
08:25 Refinancing arrangements; currencies
Running time 10:01
Last Updated: November 6, 2008 12:39 EST
Trichet Says ECB May Reduce Rates Again Next Week
Ben Sills and Gabi Thesing
Bloomberg, October 27 2008
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