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Central-bank independence is essential, ECB's Kocher says

BY Reuters | ECONOMIC | 05:44 AM EST

VIENNA, Jan 13 (Reuters) - Putting political pressure on monetary policy increases inflation and ?erodes financial stability, European ?Central Bank policymaker ?Martin Kocher said on ?Tuesday, ?without naming U.S. President ?Donald Trump ?who is pressuring the Federal Reserve.

"Central ?bank independence ?is ?not an abstract institutional principle. It's essential for ?protecting citizens' purchasing power and economic stability. And history, also including episodes ?in ?the United States, shows very clearly ?what can happen when monetary policy is subject to political pressure," Kocher told an FT ?Live conference in Vienna. (Reporting by Francois Murphy; ?Editing by Andrew Cawthorne)

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