9 May 2001, 16:25 Duisenberg: monetary policy should focus on maintaining price stability
NEW YORK (AFX) - European Central Bank president Wim Duisenberg
said monetary policy can make its best contribution to overall
stability by focusing on the maintenance of price stability.
"Independence is the cornerstone of a successful monetary policy
framework," Duisenberg said while addressing the EastWest Institute's
annual award dinner.
A central bank must sometimes make a "trade-off" between growth and
curbing inflationary development and this has never been an easy task,
particularly for banks in central and eastern Europe which have been
working during a difficult transition phase, Duisenberg said.
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