ECB Must Monitor Prices More Closely, Wellink Tells Dow Jones
European Central Bank Governing Council member Nout Wellink said the bank should watch price developments more closely than before, Dow Jones reported, citing an interview.
“Rising global commodity prices are putting pressure on inflation, that’s quite clear,” Wellink, who also heads the Dutch central bank, was quoted as saying on Sunday in Kyoto, Japan. “It’s a reason to monitor even more closely than before the inflation developments in Europe,” Wellink said, according to the report.
Referring to the recent appreciation of the euro, Wellink said the current level isn’t “a problem from a competitive point of view,” Dow Jones reported. Wellink also said he “would be interested” in having a euro-area rescue fund buy the bonds of fiscally troubled member states, Dow Jones said.
To contact the reporter on this story: Christian Vits in Frankfurt at cvits@bloomberg.net
To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net
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