(by Peter Van Bruggen)

The G10 bankers said on Monday at the meeting in Basel, Switzerland, that global recovery keeps its pace in the third quarter.

Their optimism grows despite of August oil prices boost, when top analysts cut their growth forecasts.

“At the global level, I would say that we are confident that the global recovery is confirmed. Most indicators suggest some strengthening in the third quarter," said Jean-Claude Trichet, president of the European Central Bank and chairman of the G10’s central banker’s group.

Yet, the policy makers added inflation is needed to be under control.