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.
