The recently published “Five Presidents” report on the future of the euro area underlines the importance of capital markets with regard to strengthening risk-sharing arrangements, too. The report also proposes establishing a fiscal risk-sharing mechanism in the longer run.
Monetary policy remains and will continue to remain crucial in the macroeconomic management process. The quest to achieve macroeconomic stability, a necessary condition for sustained growth, cannot be overemphasised. 4. In line with the Bank’s primary mandate of price stability, the key goal of the Central Bank’s monetary policy strategy seeks to pursue policies geared towards bringing down inflation to within the targeted bank.