GO
Loading...

Enter multiple symbols separated by commas

ECB to Do What's Needed for Price Stability: Trichet

The financial markets have understood the European Central Bank (ECB) will do what is necessary to achieve its goal of price stability, ECB President Jean-Claude Trichet was quoted as saying on Sunday.

Germany's Der Tagesspiegel newspaper said Trichet defended the language he used about the central bank's quarter-point interest rate hike on Dec. 7, which took its key lending rate to a five-year high of 3.5 percent.

"What the market has understood perfectly is that we will do what is necessary without tying our hands ex ante," the paper quoted Trichet as saying, in a preview of its Monday edition.

"We know where we must go and there is no doubt about our goal: price stability," he added.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • Republican presidential candidate Donald Trump speaks while campaigning at the Madison County Republicans "Roundup BBQ" dinner in Winterset, Iowa, June 27, 2015.

    Chicago-area craft brewer, 5 Rabbit Brewer is the latest business to tell Donald Trump he's fired.

  • President Barack Obama shakes hands with Cuba's President Raul Castro as they hold a bilateral meeting during the Summit of the Americas in Panama City April 11, 2015.

    The United States and Cuba will announce plans to open embassies, a key step in normalizing relations after more than 50 years.

  • The Grateful Dead, circa 1980.

    Check out 50 years of highlights from the legendary Grateful Dead, who will perform final shows July Fourth weekend in Chicago.

U.S. Video