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(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. Commenting on euro zone economic growth, Trichet speculated that the economy would slow sharply in the second and third quarters of 2008 before picking up speed again and returning to a "moderate" growth rate. By Todd Wailoo,
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, edited by Nancy Girgis,
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