From a longer-term perspective regarding the sound development of the global economy, it is critical that the Asian emerging economies maintain a balance between economic growth and price stability.
Because of the firm commitment to bring inflation back in line with our inflation aim, I thus believe that the prudent, persistent and patient monetary policy approach followed by the Governing Council so far is fully justified. The different environment that we are operating in since the crisis should make us more wary of past relationships guiding our decisions today and tomorrow.