Finally, a firm commitment to price stability
is the best contribution monetary policy can make toward resolving the challenges posed by external account imbalances.
When a central bank has achieved a reputation for price stability
, deviations like these do little to damage credibility.
When the Federal Reserve was founded in 1913, the Federal Reserve Act made no mention of price stability
and its mandate was rather diffuse.
While this general concept of price stability
finds wide acceptance, opinions can differ substantially on how to give this notion of price stability
precise numerical content.
We have delivered price stability
over the first twelve, thirteen years of the euro
The central bank is supposed to maintain economic and price stability
instead of price stability
alone, Wijewardana said.
Minister Fawzi said the government's policy of price stability
depends on the supply and demand.
Yilmaz said Turkish economy made very big sacrifices to reach a price stability
, however the price stability
could not be provided fully despite the achievements.
98 percent, Trichet said, adding that was in the line with the ECB's definition of price stability
We are there to deliver price stability
and price stability
in the medium term is a crucial element in activating confidence," he said.
He stated that ECB policy was "geared" towards price stability
and that such measures would also lead to financial stability as a whole.
It is against this ominous picture that the Central Bank of Nigeria (CBN)'s plan to achieve price stability
in 2009 is largely seen as a futile paper exercise, given the federal government's poor track record in targeting inflation.