Jean-Claude Trichet on ‘The European Economy’ and ‘The Global Market Selloff’

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Jean-Claude Trichet is one of the world’s most respected Central Bankers. He was the President of the European Central Bank from 2003 to 2011 and is now an Honorary Governor of the Banque de France.

Jean-Claude was interviewed by Bloomberg on two topics this week: ‘The European Economy’ and ‘The Global Market Selloff’.

In the first, Bloomberg presenter, Mark Barton, asks Jean-Claude about the state of the European economy and The ECB’s Stimulus Program: ‘Do you think ECB’s asset purchase programme will come to an end in 2018’. Jean-Claude responds, ‘It is totally open – they could decide to stop or continue a little bit – it will totally depend on what they observe at the level of the governing council. Some think it is about time to say it is over. On one hand, they are totally depending on inflation and on the other hand there are signs that underlying inflation might be there – and of course the future inflation which is associated with a buoyant economy. And the economy is buoyant obviously, so we are in an episode which is very encouraging.’

In the second interview, Jean-Claude discusses the global market selloff and the issues behind the U.S. stock market correction. Again, speaking with Mark Barton, Jean-Claude says, the stocks needed a ‘healthy correction’. But what happens next is an ‘open question’.

 

 

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