Trichet Says Europe Recovering Faster Than Forecast, Money Market Improving

European Central Bank President Jean- Claude Trichet said Europe is recovering faster than forecast and money markets are improving, paving the way for the ECB to phase out liquidity tools used to fight the financial crisis. “The available data for the third quarter are better than expected,” Trichet told reporters in Frankfurt today after the ECB’s Governing Council kept its benchmark rate at a record low of 1 percent. – Bloomberg

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