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Thread: ECB Governing Council Member Axel Weber on price stability...

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    GRG55's Avatar
    GRG55 is offline iTulip High Commissioner, Select Premium Member, Canada and Persian Gulf
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    Exclamation ECB Governing Council Member Axel Weber on price stability...

    If there was still a Deutsche Mark, with these guys running the show it would probably be the closest thing to a hard currency left on the planet (Au excepted of course).

    ECB's Weber Says Interest Rates May Need to Become Restrictive

    By Gabi Thesing
    Oct. 11 (Bloomberg) -- European Central Bank governing council member Axel Weber said the bank may need to raise interest rates to a level that restricts economic growth to keep inflation under control.

    ``If risks to price stability are threatening to materialize, monetary policy can't lose sight of its primary mandate -- even if that means no longer supporting the robust economy or becoming restrictive,'' Weber, who also heads Germany's Bundesbank, said in the text of a speech in Munich today. There may be an ``additional need'' to raise interest rates, given the ``expected acceleration in euro-region inflation over the coming months.''...

    While Weber acknowledged ``increased uncertainty,'' he said the ECB needs to remain focused on fighting inflation. ``Price increases are taking place on a broad front and are no longer limited to energy and volatile food prices,'' he said.

    Link to article:
    http://www.bloomberg.com/apps/news?p...&refer=economy
    Last edited by GRG55; 10-11-07 at 04:06 PM.

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