ECB's Issing on sustained economic growth

In a speech on 'Sustained economic growth and central banking' given on 6 July, Otmar Issing of the ECB said central banking activities can impact on longer run growth through a number of potential channels. These include the role of central banks in payments systems, in contributing to financial stability and through the quality of policy advice provided to governments.

"Indeed in the past it had been argued that even the choice of operational framework can impact on growth. For example, the

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