Detailed Instructions: Given a paragraph from a Wikipedia article about some topic, and a question related to the topic, determine whether the question is answerable from the paragraph. If the question is answerable, answer "True", otherwise, answer "False".
Problem:The primary objective of the European Central Bank, as laid down in Article 127(1) of the Treaty on the Functioning of the European Union, is to maintain price stability within the Eurozone. The Governing Council in October 1998 defined price stability as inflation of under 2%, “a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the euro area of below 2%” and added that price stability ”was to be maintained over the medium term”. (Harmonised Index of Consumer Prices) Unlike for example the United States Federal Reserve Bank, the ECB has only one primary objective but this objective has never been defined in statutory law, and the HICP target can be termed ad-hoc. Question: Why was the former president of the EMI chosen?
Solution:
False