Duisenberg: No evidence of changeover boosting inflation

European Central Bank president Wim Duisenberg said there is no evidence the introduction of the euro has had a significant inflationary effect.

"There is no evidence so far of a significant impact on the price level as a result of the euro cash changeover. Nor do we expect substantial effects in the months to come.

" There is reason to assume that the physical introduction of the euro banknotes and coins will strengthen competition, thereby supporting maintenance of price stability," he said at a news conference following the ECB's governing council meeting.

The ECB held the meeting in Maastricht to mark the 10th anniversary of the signing of the Maastricht treaty.