The objectives are maximum employment and stable prices, which are mutually consistent and achievable if maximum employment is interpreted as the maximum employment sustainable without rising or falling inflation. This is an explicit expression of a dual mandate. Inflation-targeting countries typically have goals of about 2% to 2½% for inflation and sometimes establish a range for inflation, for example, 1% to 3%.
The Treaty establishing the European Community requires strict and sustainable fulfillment of these criteria, which will be applied to future euro area entrants in the same way as they have been in the past. •  The ongoing dialogue between the Eurosystem and accession countries´ central banks will be further expanded.