ECB hints at growth as it keeps interest rate at 1%

08/7/2009 | Reuters

Jean-Claude Trichet, president of the European Central Bank, said the 1% interest rate is appropriate as he offered a slightly more optimistic outlook on the economy. "In general, the overall mood is -- right or wrong -- today a little bit better than it was before," Trichet said. "Economic activity over the remainder of this year is likely to remain weak, although the pace of contraction is clearly slowing down."

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