ECB's Trichet on communication and transparency

In a speech on 'Communication, transparency and the ECB's monetary policy' given on 24 January, Jean-Claude Trichet of the ECB said hinted that a rise in eurozone interest rates was not likely in the immediate future, despite a pick-up in inflation as a result of higher oil prices.

"It is important for the ECB to clearly communicate what monetary policy can and cannot achieve," Trichet told journalists at briefing in comments released on Tuesday.

"For example, monetary policy cannot offset short

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