BASEL, Switzerland (AFP) - – Emerging economies are driving a global economic recovery, the head of the ECB said Monday after central bankers concluded that the world economy was returning to normality.
"At a global level ... there is a confirmation of the progressive normalisation of the economy," European Central Bank (ECB) president Jean-Claude Trichet said on behalf of the central bank chiefs.
During their first quarterly meeting of the year at the Bank for International Settlements (BIS), the central bankers confirmed that a global economic recovery was under way.
"We are in the recovery mode, that is something that is very much due to the emerging economies," Trichet said.
Those economies had "demonstrated resilience," and were "very, very clearly in a more dynamic mode now," the ECB chief told reporters.
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