ECB pledges to take action to stabilize prices

PanARMENIAN.Net - Europe’s central bank will take “all necessary measures” to stabilize prices, and banks and governments should see its recent exceptional measures as a “window of opportunity” to make improvements, ECB governing council member Christian Noyer said on Monday, April 23, Reuters reported.

Noyer was one of two ECB policymakers to speak about the importance of remaining focused on the central bank’s mission of keeping prices in check. Recent funding operations to help stave off a liquidity crunch have raised worries about inflation among hard-liners.

“First and foremost, we are providing price stability and will continue to take all necessary measures to fulfill this mandate,” Noyer, who is also governor of the Bank of France, said at a conference at the New York Stock Exchange.

“Moreover, our recent exceptional and temporary measures should be seen as a window of opportunity for banks to strengthen their balance sheets and for governments to step up their efforts in a less troubled financial environment.”