ECB looks to soothe deflation fears
The Governing Council expects the extremely low or negative inflation rates to be short-lived and price stability to be maintained over the medium term, thereby continuing to support the purchasing power of euro-area households, said Jean-Claude Trichet, the president and the vice president of the European Central Bank (ECB).
Commenting on the ECB's covered purchase programme, Lucas Papademos, the vice president, said overall the programme had been quite positive and it would be implemented the
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