Trichet says indicators ' better than expected '
Trichet
Jean-Claude Trichet's comments underlined the new-found optimism about the 16-nation eurozone's prospects after it appears to have put the worst of the debt crisis behind it.
 Trichet's monthly news conference came after the bank  as expected  left interest rates unchanged at a record low 1 percent for the 15th consecutive month. There was no hint as to when the bank might consider raising rates -- a prospect that still appears distant given modest growth prospects and little sign of inflation.
 Trichet said that "the available data for the third quarter are better than expected" after picking up in the second quarter.
 Still  he expected the second half of this year "to be significantly less dynamic than the second quarter  because the second quarter seems to be really exceptional " he added. Second-quarter data are due next week.
 "I would not elaborate more on that " Trichet said. "The main message is we remain cautious and prudent  we consider that we have undoubtedly a recovery ... but again growth is likely to remain uneven and relatively modest."
 Trichet's comments followed a period when the market concern has shifted to worries about the U.S. economy losing steam  and away from the government debt crisis which engulfed the eurozone for much of the beginning of the year. Europe  meanwhile  has benefited from a pickup in global trade.
 A relaxed-looking Trichet  facing his first news conference for months that wasn't dominated by questions about potential government debt defaults  shrugged aside the shift.
 "I think that after having been extremely negative on Europe and extremely positive on the U.S.  we are now observing some kind of swing in the other direction " he said  adding that the ECB "did not declare victory."
 The ECB is due to issue its revised economic projections next month  and Trichet's words suggested they "will likely be revised slightly upwards again " said Frederik Ducrozet of Credit Agricole.
 Ducrozet also noted that Trichet "refused to send any clear signal" on the future of its unconventional support measures ahead of next month's meeting.
 "I am quite happy that this program -- which continues -- is meager " Trichet said  adding that he would offer "no further indication" on how it will proceed in future.
 Trichet declared Europe's stress tests on 91 banks  whose results were published late last month  "a very impressive success." Only seven banks failed  and many observers deemed the exercise too easy  but fears of renewed market turbulence proved unfounded.
 Trichet described that as "part of the overall picture " and the issue barely featured at Thursday's session in Frankfurt after months of worries.
 "I see that there is absolutely no question on Greece  which I appreciate enormously " he said as he closed his news conference.
[TGT] comments underlined the new-found optimism about the 16-nation eurozone's prospects after it appears to have put the worst of the debt crisis behind it.
 Trichet's monthly news conference came after the bank  as expected  left interest rates unchanged at a record low 1 percent for the 15th consecutive month. There was no hint as to when the bank might consider raising rates -- a prospect that still appears distant given modest growth prospects and little sign of inflation.
 [TGT] said that "the available data for the third quarter are better than expected" after picking up in the second quarter.
 Still  [TGT] expected the second half of this year "to be significantly less dynamic than the second quarter  because the second quarter seems to be really exceptional " [TGT] added. Second-quarter data are due next week.
 "I would not elaborate more on that " [TGT] said. "The main message is we remain cautious and prudent  we consider that we have undoubtedly a recovery ... but again growth is likely to remain uneven and relatively modest."
 [TGT]'s comments followed a period when the market concern has shifted to worries about the U.S. economy losing steam  and away from the government debt crisis which engulfed the eurozone for much of the beginning of the year. Europe  meanwhile  has benefited from a pickup in global trade.
 [TGT]facing [TGT] first news conference for months that wasn't dominated by questions about potential government debt defaults  shrugged aside the shift.
 "I think that after having been extremely negative on Europe and extremely positive on the U.S.  we are now observing some kind of swing in the other direction " he said  adding that the ECB "did not declare victory."
 The ECB is due to issue its revised economic projections next month  and [TGT]'s words suggested they "will likely be revised slightly upwards again " said Frederik Ducrozet of Credit Agricole.
 Ducrozet also noted that [TGT] "refused to send any clear signal" on the future of its unconventional support measures ahead of next month's meeting.
 "I am quite happy that this program -- which continues -- is meager [TGT] said  adding that [TGT] would offer "no further indication" on how it will proceed in future.
 [TGT] declared Europe's stress tests on 91 banks  whose results were published late last month  "a very impressive success." Only seven banks failed  and many observers deemed the exercise too easy  but fears of renewed market turbulence proved unfounded.
 [TGT] described that as "part of the overall picture " and the issue barely featured at Thursday's session in Frankfurt after months of worries.
 "I see that there is absolutely no question on Greece  which I appreciate enormously " [TGT] said as [TGT] closed [TGT] news conference.