Trichet: Global growth set to continue

THE recent financial market correction is unlikely to hit the global economy, but it is a reminder of the risks inherent in markets, central bankers from leading economies agreed yesterday.

Group of 10 chairman Jean-Claude Trichet said the central bankers expected dynamic global economic growth to continue, and he dismissed the prospect of a recession in the US.

Mr Trichet described the markets slide, which began late last month, as a correction and said this “episode” did not appear to have been triggered by economic fundamentals.