Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-03-14-Speech-2-296"
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"en.20060314.27.2-296"2
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".
The question concerns interest rate policy and monetary policy.
On behalf of the Commission, I must say that monetary policy – and therefore decisions on interest rate changes – is the sole responsibility of the European Central Bank. Its independence is enshrined in the Treaty. It is the European Central Bank’s primary objective to maintain price stability in the euro area by ensuring that medium- to long-term inflation expectations in the euro area remain solidly anchored at levels consistent with price stability. The European Central Bank supports economic growth and job creation in the euro area. The current level of interest rates across the entire maturity spectrum remains low by historical standards, both in nominal and real terms.
As regards the last part of the question on the economic outlook, in its last interim forecast the Commission expected economic growth in 2006 to accelerate to between 1.9% and 2% in the euro area, which is close to estimates of the area’s potential growth rate. However, the Commission is cautious about commenting on the policies of the European Central Bank, as that is the Bank’s sole responsibility."@en1
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