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No redefinition.

European Central Bank (ECB) president Jean-Claude Trichet said on May 23 that the ECB had no plans to change its definition of price stability, dismissing suggestions that higher inflation might help the economic recovery. "It goes without saying that central banks are excluding inflation. We are there to deliver price stability and price stability in the medium term is a crucial element in activating confidence," he said. "It is absolutely out of the question to change anything in our definition of price stability." ECB targets two per cent inflation in the eurozone.

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Title Annotation:BANKING BRIEFS
Publication:The Sofia Echo (Sofia, Bulgaria)
Date:May 29, 2009
Words:94
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