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ECB's Trichet Reiterates That Central Bank Committed to Med-Term Price Stability

European Economy | Written by CEP News | Jul 18 08 07:22 GMT |

(CEP New) Frankfurt - In a joint interview with four European newspapers, including France's Le Figaro, European Central Bank President Jean-Claude Trichet reiterated that the central bank is committed to maintaining price stability in the medium term and getting inflation down to the target rate of 2% or below.

Trichet also stressed the importance of avoiding second-round inflation effects. Additionally, the ECB president highlighted that, while policy makers could not control the price of oil, they could affect the inflationary impact of services costs, as well as wage increases.

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