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ECB Will Act When Needed To Maintain Price Stability, Says Asmussen

4/13/2012 6:50 AM ET

European Central Bank Executive Board member Joerg Asmussen said the bank will act when needed to maintain price stability.

"Like last spring when the economic outlook had improved and we started carefully raising interest rates," he said on Friday. He added that inflation remains in check.

The ECB lifted the rates two times earlier last year before reversing the measures in November and December 2011. Now the main refi rate remains at a record low 1 percent.

On Thursday, Asmussen said at the Institute of International and European Affairs, Dublin, that the Irish government has the capacity to further consolidate and implement the necessary reforms.

by RTT Staff Writer

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