October 19, 2010 / 12:56 PM / 9 years ago

Trichet-Statistics standards should be made law

FRANKFURT, Oct 19 (Reuters) - The best way to ensure European statistics are robust is to enshrine a minimum set of standards in law, European Central Bank President Jean-Claude Trichet said on Tuesday.

“There should be mechanisms to ensure that governance and quality provisions laid down in the European statistics code of practice of the ESS (European Statistical System) are fully adhered to,” Trichet said at an ECB statistics conference.

“This is best achieved by reinforcing the binding nature of the European statistics Code of Practice and enshrining its minimum standards, in particular on professional independence, in a European legal act.”

Trichet added that euro zone inflation expectations remained firmly anchored. The ECB aims to keep inflation in the 16-country bloc just under 2 percent.

The ECB is expected to keep interest rates at their current record low of 1.0 percent until late next year. [ID:nLDE68S1EZ] Meanwhile, the bank has to decide at the end of this year, or in early January, whether to press on with phasing out its support measures. (Reporting by Marc Jones and Sakari Suoninen)

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