–Adds Background Of Recent Comments From Other ECB Officials
BRUSSELS (MNI) – European Central Bank President Jean-Claude
Trichet reiterated Monday that he had nothing to add on monetary policy
to what he had said at his last press conference on March 3.
“As I set out in my introductory comments, I believe that today I
have nothing to add to what the governing council at its last meeting
considered,” Trichet said.
On March 3, the ECB’s Governing Council signalled that it may hike
interest rates in April. The disaster in Japan and military conflict in
Libya have since spurred speculation whether the ECB may postpone
monetary tightening.
The very latest comments from Council members seem to suggest that
the ECB so far plans to stick to its course.
Executive Board member Gertrude Tumpel-Gugerell said Monday that
“strong vigilance” is warranted reiterating the bank’s code words for
near tightening.
Yves Mersch, member of the Governing Council, also said Monday that
“great vigilance is called for, with a view toward containing the
heightened risks to price stability.”
And Bank of Italy Governor, speaking in Milan moments ago, said the
ECB must remain vigilant to defend price stability and prevent a
deterioration of inflation expectations. He added that the bank must
carefully evaluate the monetary policy timetable.
Slovenia’s Marko Kranjec, however, confirmed that no decision on
whether to raise interest rates in April had been taken yet.
Trichet’s comments came in his introductory statement to the
European Parliament’s Economic and Monetary Policy Affairs Committee.
[TOPICS: M$$EC$,M$X$$$,MT$$$$,MGX$$$,M$$CR$]
