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ECB upbeat on global economy

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ECB upbeat on global economy

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As expected there was no change in euro zone interest rates this month from the European Central Bank.

ECB President Jean-Claude Trichet said the global economy and foreign trade may recover more strongly than projected, thereby further supporting euro zone exports.

Trichet said stress tests on the region’s banks will boost confidence in the sector and banks and regulators must take “appropriate action” to strengthen banks’ resilience.