price stability; - both are forward-looking;  BIS Review 32/1997  -3-  - and both make use of an extensive set of indicators to be able to assess whether the course pursued is the right one. In fact the different weights assigned to the money supply form the main distinction between the two strategies.
If the two strategies differ so little in daily practice, how can we compare their pros and cons? To make comparison possible, it has been agreed within the EMI that the ECB will base its choice of monetary strategy on six general criteria, to wit effectiveness, accountability, transparency, medium-term orientation, continuity and consistency with the independence of the ECB.