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ECB's Trichet: Inflation above 2% in coming months *PIC*

ECB's Trichet: Inflation above 2% in coming months (by William L. Watts)

FRANKFURT (MarketWatch) -- European Central Bank President Jean-Claude Trichet told a European Parliament committee on Monday that the institution expects annual inflation in the 17-nation euro zone to remain above 2% "over the months ahead." Trichet said the Governing Council "is determined to ensure that inflation expectations continue to be firmly anchored" in line with the ECB's target of keeping inflation below but close to 2%. Trichet defended the ECB's decision to resume bond purchases through its Securities Market Program and said the actions remain separate from the ECB's monetary policy stance, emphasizing that liquidity provided by the bond purchases is reabsorbed through the bank's market operations.