GO
Loading...

BREAKING NEWS FROM CNBC’S STEVE LIESMAN: MONETARY POLICY SHOULD FOCUS ON PRICE STABILITY: BUNDESBANK SOURCE

WHEN: Today, Tuesday, July 31, 2012

WHERE: CNBC’s “Squawk Box

Following is the unofficial transcript of breaking news from CNBC’s Steve Liesman. All references must be sourced to CNBC.

STEVE LIESMAN: BUNDESBANK SOURCE TELLING CNBC THAT IN ITS OPINION, MONETARY POLICY SHOULD STRICTLY FOCUS ON ITS MANDATE TO PRESERVE PRICE STABILITY. THE SOURCE TELLING US THAT PROBLEMS FACING SOME MEMBER STATES ARE FISCAL AND THAT THOSE PROBLEMS SHOULD BE ADDRESSED BY FISCAL INSTRUMENTS. FOR EXAMPLE, STATES SHOULD USE THE EFSF IF ITS NECESSARY. BECKY, THESE COMMENTS COME WITH HIGH EXPECTATIONS THAT THE EUROPEAN CENTRAL BANK WILL TAKE EXTRAORDINARY ACTIONS THIS WEEK.

About CNBC:

With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD+, CNBC is the recognized world leader in business news providing real-time financial market coverage and business information to more than 395 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 8:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC.com and CNBC Mobile Web (mobile.cnbc.com) offer real-time stock quotes, charts, analysis and video.

Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://www.nbcumv.com/mediavillage/networks/cnbc/