European Central Bank executive board member Juergen Stark said today that central banks worldwide are likely to come under increasing political pressure, but the ECB would resist any pressure to allow higher inflation.
"On the ECB board, we are a very convinced band which will resist political pressure," he told Deutschlandfunk radio. "However, increased political pressure could come from other areas of the world so that globally, central banks could have difficulties."
Mr Stark also denied there had been any political influence in the ECB's decision to reverse its opposition to government bond purchases and said it would have rejected this if there had been any.
He repeated ECB promises to sterilise money put into the economy during its programme of buying euro zone government bonds which began on Monday.
The euro zone would have higher inflation this year but price stability would still be achieved in the region, he said. He also saw no inflation risk for the foreseeable future.
Reuters