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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.
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.
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