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." sjw/sw/jlw

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