The European Central Bank (ECB) has achieved its overriding goal of achieving price stability in the euro area, reflecting a "substantial accomplishment," ECB President Wim Duisenberg said Jan. 24, 2001. The main focus of the ECB's monetary policy in the months ahead will be to ensure that second-round inflationary effects do not emerge in Europe, he said, adding that the ECB will also keep a watchful eye on global economic developments, particularly in the U.S.

"By a number of measures, the euro