June 27, 2008 / 10:33 AM / 11 years ago

Treasury's Paulson to meet with ECB's Trichet

Treasury Secretary Henry Paulson talks on his cell phone in Cancun, Quintana Roo, June 24, 2008. REUTERS/Stringer

FRANKFURT (Reuters) - U.S. Treasury Secretary Henry Paulson will meet European Central Bank President Jean-Claude Trichet next week during a trip to Europe to discuss global economic issues.

The U.S. Treasury said earlier this week that Paulson would visit Moscow, Berlin, Frankfurt and London during a June 29-July 3 trip.

An ECB spokeswoman confirmed Paulson would visit the ECB’s Frankfurt headquarters on Tuesday, two days before the ECB’s next interest rate meeting.

The ECB is widely expected to raise rates for the first time in more than a year, taking benchmark euro-zone lending rates to 4.25 percent from 4.0 percent.

The Treasury said discussions in Europe would focus on the health of the global economy, among other issues. Currency issues may also come up at the meeting.

The euro hit a near three-week high against the dollar on Thursday and Paulson and other U.S. officials have repeatedly backed a strong dollar.

U.S. Federal Reserve Chairman Ben Bernanke issued a rare warning about the inflation risks of a weak currency, addressing a conference in Spain on June 3 by video link. But the gains in the currency were reversed when Trichet signaled two days later that the ECB could raise rates at its next policy meeting.

Reporting by Marc Jones; editing by Tony Austin

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