12 September 2001, 12:49 Duisenberg will not speculate on impact of US attacks on monetary policy
BRUSSELS (AFX) - European Central Bank president Wim Duisenberg
said he will not speculate on the impact of yesterday's terrorist
attacks in the US on monetary policy.
Speaking in his testimony before the EU parliament's committee on
economic and monetary affairs, Duisenberg said the ECB governing
council will have its first discussion on the attacks at its regular
meeting tomorrow.
Duisenberg added the ECB and national central banks are ready to
support the normal functioning of the markets and the relevant
operational systems, should the need arise.
"Indeed the ECB has been in close contact with the other major
central banks in the world since the events have unfolded," he said.
"At this stage, I do not want to speculate about the possible
consequences of yesterday's developments in financial markets on
economic and monetary developments," he added.
Duisenberg however reiterated previous statements that he considers
the current levels of ECB interest rates to be "appropriate for the
maintenance of price stability over the medium term."
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