fed speech, 2006-01-18
Some observers immediately conjectured that the single currency was directly responsible for the muted economic performance of the euro area and publicly questioned its durability; however, the track record of the Single monetary policy, after only 6 years of implementation, has been really impressive: the inception of the euro has been associated with an increased macroeconomic and price stability within the euro zone, despite an unusual sequence of unfavourable events, adverse supply shocks and periods of global financial turbulences.
Sentiment: neutral
Topic: mp_interest_rate