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Central Bank's Primary Commitment is to Price Stability, Says ECB's Liebscher |
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European Economy |
Written by CEP News |
Jul 23 08 07:07 GMT |
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(CEP News) Frankfurt - In an interview with Austrian newspaper Wiener Zeitung on Wednesday, European Central Bank Governing Council member Klaus Liebscher reiterated that the ECB's primary commitment was to price stability and that the citizens of the monetary union would not tolerate a loose monetary policy.
"The 320 million people living in the euro area wouldn't understand a lax monetary policy by the ECB or if the bank would tolerate a high inflation rate," Liebscher said. Leibscher also said that he expected a "relatively healthy" growth rate for the economy. "It's not appropriate to say that the interest rate increase will choke the economy," Liebscher said. "All in all, we can expect relatively healthy growth." By Todd Wailoo,
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