Central Banking

ECB's Trichet on monetary policy

In the speech 'Monetary policy and 'credible alertness'' given on 27 August, Jean-Claude Trichet of the ECB defended the ECB's infrequent intervention in interest rates compared to the US Federal Reserve.

The contrast in strategies has generated lively discussion at this weekend's symposium on monetary policy at Jackson Hole, Wyoming, he said.

"Our credibility has enabled us to regain full control of inflationary expectations with remarkable efficiency over the last two years. And this was

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