Trichet chairs first policy meeting

THE new president of the European Central Bank, Jean-Claude Trichet, chairs his first meeting of policy-makers this week.

He does so amid signs of an economic recovery, scant inflation and the prospect of low interest rates into next year.

“The situation for Trichet is better now than just a few weeks ago. The recovery is finally taking hold,” said Christel Rendu de Lint of Pictet & Cie in Geneva.