NEW YORK (AFX) - European Central Bank president Wim Duisenberg said monetary policy can make its best contribution to overall stability by focusing on the maintenance of price stability. "Independence is the cornerstone of a successful monetary policy framework," Duisenberg said while addressing the EastWest Institute's annual award dinner. A central bank must sometimes make a "trade-off" between growth and curbing inflationary development and this has never been an easy task, particularly for banks in central and eastern Europe which have been working during a difficult transition phase, Duisenberg said.