Wiener Zeitung: OeNB chief says Euro-zone economy is healthy

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OeNB chief says Euro-zone economy is healthy

Austrian National Bank (OeNB) Governor and European Central Bank (ECB) council member Klaus Liebscher says that the economy of Euro-zone countries has a sound footing despite increased uncertainty and more risk. He also notes that ECB's main priority is price stability and only then economic growth. He adds that ECB expects growth of around two per cent in Euro-zone countries this year.He predicts that the rate of inflation will have sunk to around two per cent by the end of 2008. The term second-round effects refers to their passage throughout all sectors of the economy through such mechanisms as wage increases.