|
(CEP News) Frankfurt - European Central Bank Governing Council member VÃtor Manuel Ribeiro Constâncio said that the slowing economy and effects from the current financial crisis are the dominant concerns regarding the euro zone's economic outlook.
"Monetary policy in the euro area has been subject to a great pressure to avoid a price spiral," Constancio said to reporters in Luxembourg. "Contributing to the pressure that monetary policy was subjected to, there was a particularly uncertain macroeconomic scenario but which is now dominated by the cooling economy and by financial instability." The central banker also said a price spiral had been a concern for the ECB and noted easing inflation pressures in the monetary union. By Todd Wailoo,
This email address is being protected from spam bots, you need Javascript enabled to view it
, edited by Stephen Huebl,
This email address is being protected from spam bots, you need Javascript enabled to view it
CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News. A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer. |
