European growth shows 'progressive recovery'

European Central Bank President Jean-Claude Trichet said yesterday that economic growth in the 12-nation eurozone area was progressing close to its potential but would say nothing about what bank policy-makers will do when they meet this week to discuss interest rates.

“I am in my purdah period, so don’t expect any hint from me,” Trichet said in a remarks to the American Bankers Association’s International Monetary Conference.