Without prejudice to its primary objective, the Eurosystem supports the broad economic objectives as laid down in Article 3 of the Maastricht Treaty, which include, among other things, growth and employment.
By establishing this clear hierarchy between objectives, the Treaty legislator acknowledged that the best contribution monetary policy can make to economic growth and employment in the medium and long run is to maintain price stability. What does the primary objective of “price stability” mean in concrete terms?