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| ECB's Papademos Says Inflation Concerns Dominate Developed World |
| ECB, 27.08.2008 |
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| Today in Buenos Aires, European Central Bank Vice-President Lucas Papademos said inflation risks in the developed world have increased.
Papademos said he expects the economy to improve in late 2008 and early 2009. He forecasts a small moderation in inflation for the next year and expressed concern that inflation could potentially spark a wage spiral. He warned that second-round effects must be avoided.
Papademos commented further that a drop in oil prices was not enough to dismiss concerns about inflation, and added that price stability is the prime goal of the ECB.
Papademos noted that there was scant evidence of a credit crunch in Europe, but admitted that the growth outlook is uncertain.
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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