FXstreet.com (Barcelona) - The European Central Bank has reaffirmed its intention to anchor inflation as the primary goal of the Bank's monetary policy, and therefore, the Bank's Government Council will continue to monitor very closely all developments, as the Bank's monthly bulletin affirms.

According to the latest Bank's monthly bulletin , the latest meeting of the Governing Council confirmed the existence of short term upside risks to price stability, apart from the upside risks to price stability in the medium term in a context of a very vigorous money and credit growth.

The Bank affirms that its monetary policy is aimed, to contain inflation: The Governing Council emphasises that maintaining price stability in the medium term is its primary objective (…)the current monetary policy stance will contribute to achieving this objective, and remains strongly committed to preventing second-round effects and the materialisation of upside risks to price stability over the medium term.

The latest macroeconomic indicators, according to the bulletin, point out to moderating but ongoing GDP growth in the Euro Area, but the Bank estimates that the Euro Zone's economic fundamentals are strong, although the level of uncertainty arisen from the financial markets turmoil remains high.