Speech by Otmar Issing of the ECB, 30 Aug

- Central Banking staff
- 03 Sep 2002

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SPEECH - In the speech titled 'Monetary policy in a changing economic environment' Issing said that asset prices do not make a suitable monetary policy objective. "Asset prices, by themselves, are not a suitable goal for monetary policy. In the long run the relative price of assets is driven by underlying real factors such as developments in technology and preferences which cannot be controlled by monetary policy."

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