Eurozone growth is likely to rebound later this year after the current weak patch, Jean-Claude Trichet, president of the European Central Bank, has argued in comments that suggested he sees the region avoiding a severe downturn.

The 15-country bloc would hit an economic growth “trough” in the second and third quarters of this year but the ECB then expected “a progressive return to ongoing moderate growth,” Mr Trichet said in an interview with four European newspapers.