Crowd busting

volker-wellmann-1

When Jean-Claude Trichet, president of the European Central Bank (ECB), stepped up to the podium at 2:30pm on June 5, 2008, the markets knew what was coming. The ECB had just voted to hold rates steady, but Trichet was expected to signal the next move would be lower. In the face of a growing economic crisis, the US had already cut rates by 225 basis points in the first half of the year, while the UK had cut by 100bp. But Trichet had a surprise up his sleeve: the central bank was worried about

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: