24 April 2001, 15:44 ECB'S LIEBSCHER SAID IT'S STILL POSSIBLE HICP BELOW 2% THIS YEAR
but leaves open possibility that it won't. Stresses rising core
inflation requires continued ECB vigilance, given that pass-through
of higher oil prices may take longer than expected. A steady hand
policy is important for a young central bank and the ECB should take no
hectic actions. Also, no sign yet that EMU 2001 GDP will be below
potential, seen by the ECB at 2.0-2.5%.
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