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While the outlook for the global economy in 2009 looks decidedly grim the G10 is confident 2010 will see a significant pickup in economic growth.
Speaking as the spokesperson for the G10 central bankers on Monday, European Central Bank head Jean-Claude Trichet said; "If there is (the) overall sentiment that the global economy will slow down significantly in 2009…it is also noted that 2010 should be the year of the recovery”, Bloomberg reported today.
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Mr Trichet said measures taken by governments and central banks to avert the financial crisis had not yet been fully priced in by markets but would play a progressively positive role in the recovery of the global economy.
