Wim Duisenberg
Wim Duisenberg
Willem Frederik "Wim" Duisenberg; 9 July 1935 – 31 July 2005) was a Dutch politician of the Labour Party...
assessment medium needed price simply stability threatened
We simply needed more indicators for our assessment that price stability is threatened in the medium term,
area basis current ensure euro information maintain medium monetary policy price stability stance
On the basis of the information available, the current stance of monetary policy is appropriate to ensure that the euro area will be able to maintain price stability over the medium term,
current euro exchange increase light medium price rate risks seriously taken taking term
The depreciation of the exchange rate of the euro will increase the risks to price stability, ... In the medium term these risks have to be taken seriously, and we are taking them seriously in light of the current exchange rate.
I'm very confident. Everything has been so well prepared.
doubt exchange financial highly integrated rates serious target whether zones
In a world characterized by highly integrated and sophisticated international financial markets, there is serious doubt whether target zones for exchange rates are feasible.
action deplorable exchange inclined industry protect rate rather steel united
I'm rather inclined to say this deplorable action by the United States' authorities to protect its steel industry may have something to do with the exchange rate of the dollar, as it is being experienced by the American steel industry.
activity area continue determined domestic economic euro growth likely mainly reasonably robust
Economic activity in the euro area is determined mainly by domestic factors, ... Growth is very likely to continue at a reasonably robust pace.
answer questions recent relating
I'm not going to answer any questions relating to that recent interview,
benign exchange mean policy rate time
Not having an exchange rate policy -- and we do not have one -- does not mean there is benign or malign neglect. For the time being there is neglect.
close economic growth level potential reach
At the end of the year, economic growth should reach a level close to potential growth,
rates situation
We will set rates as the situation requires.
although clear contrast difficult economy emergence euro evidence itself united
There is some evidence -- although not uncontroversial itself -- of the emergence of a new economy in the United States. By contrast it is difficult as yet to find clear evidence of a new economy in the euro area,
contribute lower outlook price stability
This weakened outlook should contribute to lower inflationary pressures. And, as you know, price stability is our aim,
colleague speak suggestion
And the suggestion from a colleague was that we do not speak about intervention,