Jean-Claude Trichet Press conference in line with expectations, the euro is slightly up 0.30% against its major rivals.

[RTFX-Trading]

Jean-Claude Trichet Press conference in line with expectations, the euro is slightly up 0.30% against its major rivals.

ECB President Jean-Claude Trichet press conference does not give guidance on the future ECB monetary policy. After the decision of the Governing Council to leave interest rates unchanged at 13.45 CET, Mr Trichet confirmed at the press conference at 14:30 CET that the ECB will make direct purchases of Euros 60 billion throughout the euro zone. These purchases will be on primary and secondary market since July 2009 and ending no later than June 2010. Other statements are in line with expectations, a contraction of economic activity less pronounced this year 2009, while a recovery is expected mid-2010.



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