Duisenberg - Financial market and monetary policy

In a speech on 'New economy, financial markets and monetary policy' Wim Duisenberg of the European Central Bank said with the benefit of hindsight, he can say that the ECB was right to have reacted relatively cautiously when the world discussed the "new economy". He said he remembered well the criticism the ECB faced in late 1999 when the Bank did not want to revise its assumptions for trend potential GDP growth for the euro area.

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