Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Israeli strikes on Gaza as seen on social media

Read more

DEBATE

Africa's Newest Failed State: How to Stop Civil War and Famine in South Sudan? (part 2)

Read more

DEBATE

Israel and the Palestinians: How to Break the Cycle of Violence?

Read more

DEBATE

Africa's Newest Failed State: How to Stop Civil War and Famine in South Sudan?

Read more

AFRICA NEWS

Somalia : Al Shebab attack on presidential palace

Read more

FOCUS

Sharia law to be enshrined in British legal system?

Read more

ENCORE!

How a comedy dud became one of France's biggest box office hits

Read more

AFRICA NEWS

Kenya: Clashes at anti-government rally in Nairobi

Read more

WEB NEWS

ISIS leader challenged over expensive-looking wristwatch

Read more

  • Israel steps up airstrikes as diplomacy gets under way

    Read more

  • Argentina beat Netherlands on penalties to reach World Cup final

    Read more

  • Foiled French jihadist ‘targeted Louvre and Eiffel Tower’

    Read more

  • Obama in Texas to urge congressional action on child migrant crisis

    Read more

  • Iraq’s heritage 'in danger' from ISIS militants

    Read more

  • Froome crashes out of Tour de France

    Read more

  • South Sudan independence heroes ‘have lost their way’

    Read more

  • 100 years on, the Tour de France returns to the Western Front

    Read more

  • Dozens of blindfolded bodies found south of Baghdad

    Read more

  • Alps Murder wife had ex-husband who died on same day

    Read more

  • Both candidates say they won Indonesian presidential election

    Read more

  • Brazil players should never wear 'sacred uniform' again, press says

    Read more

  • Exiled Syrian opposition elects new president

    Read more

  • Ukraine imposes new conditions on peace talks with pro-Russia rebels

    Read more

  • Sarkozy's UMP party 'almost €80 million in debt'

    Read more

Business

Global economy is 'approaching' possible upturn, says ECB chief

©

Latest update : 2009-03-09

In his capacity as spokesman for the G10 central bankers meeting, European Central Bank head Jean-Claude Trichet said the global economy is "approaching" a pick-up point.

AFP - The global economy is "approaching" a pick-up point as positive elements that could fuel growth have yet to be priced in, G10 central bankers said Monday.

"We have a number of elements that are suggesting that we are approaching the moment where you would have a pick up," European Central Bank head Jean-Claude Trichet said in his capacity as spokesman for the G10 central bankers meeting at the Bank for International Settlements (BIS).

"I would say that we are at a level where the positives are not necesarily fully priced in," he added.

He did not specify a turning point but said central bankers would not depart from projections by global institutions, which are forecasting global momentum at close to zero this year before growth in 2010.

Trichet added that there was currently an under-estimation of the positive impact of sharply lower commodities and oil prices, as well as fiscal packages launched by governments.

He also pointed to a "very very strong commitment of authorities ... not to let any systemic institutions go under."

"This is a very very strong commitment which has been taken by executive branches which is not fully priced in by the market," he added.
 

Date created : 2009-03-09

Comments

COMMENT(S)