Brussels, 18/07/2008 (Agence Europe) - The president of the European Central Bank (ECB) is adamant about the fact that the fight against inflation will bear result. “Those who fix prices today and social partners must take into account the fact that we shall have returned to price stability as defined (Ed.: i.e. close to 2%), let's say within about 18 months”, Jean-Claude Trichet assures in an interview with the French daily, Le Figaro, on 18 July. He sticks to his guns, determined to fight the current risk of second round effect, whereby the rise in oil prices and foodstuffs would push salaries upwards, saying: “We must prevent all the other prices that depend on us, for example, the price of services or salaries, from rising in an abnormal manner, as if the abnormal level of inflation were to continue”. Without being a generalised phenomenon, there are “serious signs” of second round effects, Mr Trichet comments at this stage, defending the monetary policy currently conducted. This policy will “contribute to ensuring medium term price stability” and the ECB “will in future do what is appropriate to ensure medium term price stability”. He went on to predict a “lull” in eurozone growth forecasts “during the second and third quarters and from then on a gradual return to moderate growth”. (A.B./transl.jl)