5 August 2003, 10:14  Trichet says ECB rates low, urges deficit restraint

PARIS, Aug 5 - Bank of France chief and future ECB president Jean-Claude Trichet said on Tuesday interest rates in the euro zone were at historic lows and he expected growth in France to be better in the third quarter than the second. In an interview on RTL radio, Trichet also highlighted what he said in an annual letter to President Jacques Chirac, namely that it was important to control public spending and reduce the public deficit in France. Nobody in Europe was seeking to change the letter of the European Union's Stability and Growth Pact, which sets limits for deficits in euro zone countries, he added.

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