World economy getting back to normal: Central bankers

BASEL: Leading central bankers believe emerging economies are gradually dragging the world economy back to normality after a steep crisis, the president of the European Central Bank said on Monday.

"At a global level... there is a confirmation of the progressive normalisation of the economy," said ECB chief Jean-Claude Trichet, speaking on behalf of the central bank chiefs.

During their first quarterly meeting of the year at the Bank for International Settlements (BIS), they concluded that a global economic recovery was underway.

"We are in the recovery mode, that is something that is very much due to the emerging economies," Trichet said.

Those economies had "demonstrated resilience," and were "very, very clearly in a more dynamic mode now," the ECB chief told journalists.