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European Central Bank head Jean-Claude Trichet believes global economic activity may have reached a turning point and the worst of the recession could now be behind us.
“We are, as far as growth is concerned, around the inflection point in the cycle,” Mr Trichet said yesterday at the Bank for International Settlements’ global economy meeting, The Australian reported.
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"There are signs that the worst [of the economic slump] was in the first quarter," he said.
Nevertheless Mr Trichet said it was crucial to remain “very alert” and emphasised that central bankers and policy makers should consider carefully how to withdraw from special stimulus measures launched during the crisis.
