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Thursday, 28 June 2012

2012.06.27 20:00:04 Asmussen: ECB Will Defend Price Stability At Any Time, Against Resistance

 

By Tom Fairless

 

The European Central Bank stands ready to defend price stability at any time and even against resistance, ECB executive board member Joerg Asmussen wrote in an opinion piece published Tuesday.

Writing in German newspaper Allgemeine Zeitung, Mr. Asmussen said the ECB's success in fighting inflation over the past decade "shows that the ECB fulfils its mandate of price stability at any time and also against resistance."

The ECB's governing council will meet July 5 to set interest rates for the 17-country bloc. The bank aims to keep euro zone inflation close to but below 2% over the medium term.

Mr. Asmussen also said the euro and European integration provide a guarantee that Europe's voice will be heard in the globalized world in the future.

 

Write to Tom Fairless at tom.fairless@dowjones.com

 

(END) Dow Jones Newswires

June 27, 2012 14:00 ET (18:00 GMT)

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