ECB's Gonzalez-Paramo on monetary policy

In the speech 'The European Central Bank's monetary policy in an international context: principles and challenges' given on 23 June, Jose Manuel Gonzalez-Paramo of the ECB said there is no doubt in his mind that a monetary policy strategy based on a quantitative definition of price stability and an economic and monetary analysis is the right framework for the euro area.

"In my view, this approach has been essential to ensuring the high level of credibility of the ECB and its monetary policy. This

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