20 March 2002, 13:22 ECB's Issing sees recovery starting early this year
BRUSSELS (AFX) - European Central Bank chief economist Otmar Issing
recent data has suggested the recovery in the euro zone will start
early this year and then accelerate in the second half.
Speaking to the European Parliament's economic and monetary affairs
committee Issing added that he expects inflation to fall below the
ECB's stability ceiling of 2 pct in the course of the second quarter
this year.
He said it will be "crucial" for the bank to monitor developments
in M3 money supply growth this year.
The ECB governing council remains "satisfied" with defining price
stability as an average annual inflation rate of under 2.0 pct, Issing
added.
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