European Central Bank President Jean-Claude Trichet indicated that the global economic deterioration shows signs of halting and recovery may occur in 2010, repeating that decisions on another interest rate cut and unconventional measures would come in May.
"In a number of economies, including in Europe, we see that some surveys are demonstrating that things are not deteriorating more," Trichet said in a recent interview in Tokyo. "But that does not change the fact that 2009 is a very difficult year."
While the world needs to tackle the "evaporation of confidence" amid the financial crisis, an economic recovery could come "in the course of 2010," helped by lower oil and commodity prices, coupled with the resilience of major emerging economies, Trichet said.