Euro zone in "right direction": ECB president

European Central Bank (ECB) President Jean-Claude Trichet said Friday that the euro zone's latest economic indicators offer encouraging signs and point in broadly the right direction.

"The latest indicators that we've had from surveys of industry and across the whole economy over the last two months are pointing in broadly the right direction," Trichet told Europe-1 radio.

He also reiterated his view that the interest rates are, " given the data at our disposal, currently appropriate, but we remain vigilant."

"Right now, in the Europe of the euro zone interest rates, not only our short rates at 2 percent but the 10-year rates, are the lowest we have had in France, in Germany (and) in the other countries for 50 years, I could even say 100 years,"

"We are doing what we can... while remaining faithful to our mandate (to ensure) price stability, but what matters to us is confidence."

"I am not preparing the markets for a lowering of rates, I am not preparing them for a rise in rates," Trichet said.

The ECB left Thursday its leading interest rates unchanged as expected. The key rate of 2.0 percent is considered to be low by post-war standards in Europe.

Source: Xinhua