Underlying momentum of economic activity remains positive: European Central Bank

European Central Bank President Jean-Claude Trichet stated (21-Mar-2011) incoming data has "confirmed our view that the underlying momentum of economic activity remains positive". Looking ahead, the ECB expects the economy to "further benefit from the ongoing recovery in the world economy, the very accommodative monetary policy stance and the measures adopted to improve the functioning of the financial system". He added that inflation in the euro area is on the rise and risks to the price outlook are on the upside.