ECB sticks to inflation line amid OECD cut calls

Jean-Claude Trichet, the president of the European Central Bank, and fellow members of the rate-setting governing council have defended the central bank's decision to fight inflation, in spite of increasingly vociferous calls for them to cut rates.

"I trust that in all circumstances, but even more particularly in demanding times of significant market correction and turbulences, it is the responsibility of the central bank to solidly anchor inflation expectations to avoid additional volatility

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