14 February 2002, 12:32 ECB says price stability outlook unchanged in past weeks, so rates appropriate
FRANKFURT (AFX) - The European Central Bank said the outlook for
price stability has not changed significantly in recent weeks, and
interest rates therefore remain appropriate.
The ECB said its decision to leave rates unchanged at its Feb 7
meeting "reflects the assessment that the outlook for price stability
over the medium term has remained broadly unchanged over the past few
weeks".
"The governing council considers the current level of key ECB
interest rates as appropriate to maintain price stability over the
medium term," it said in its February monthly bulletin.
It said year-on-year inflation rates should decline in the months
to come, barring unforeseen developments, and stabilise at levels
safely below its 2 pct price stability ceiling.
Inflation jumped to 2.5 pct in January from 2.1 pct in December as
a result of exceptional and short-lived factors, the ECB said.
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