ECB’s Stark calls for end to short-term approach to monetary policy

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Central banks should not be drawn into using monetary policy to fine-tune the economy and instead must focus their efforts on achieving medium-term price stability, Jürgen Stark, a member of the executive board at the European Central Bank (ECB), said on Tuesday.

At the Institute of Regulation & Risk, North Asia, in Hong Kong, Stark said: "The crisis should mark a clean break with short-termism and fine-tuning demand management by monetary authorities. An insufficient medium-term orientation and

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