ECB president Trichet says economy may contract next year. Trichet said in an interview with an Egyptian newspaper that "negative figures for growth in 2009 are gradually appearing", but added that to his knowledge "all forecasters are projecting positive growth in 2010". Trichet also said today that central banks are facing exceptional circumstances. ECB officials have indicated that rates are likely to come down again at the next meeting, but there have been words of caution against a bold move and we are looking for a 50 bps cut, rather than teh 100 bp some are hoping for.