Weber on the monetary policy of the Eurosystem

In the speech 'The role of money in the monetary policy of the Eurosystem' given on 17 March Axel Weber of the Bundesbank said the European Central Bank must continue paying close attention to monetary growth.

Weber, who is a member of the ECB's rate setting governing council, said the role of monetary growth has been one of the most criticised aspects of the central bank's strategy.

"There is a well-established long-run relationship between money growth and inflation in the euro area: monetary

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