As these underlying inflation statistics – available today – contain information that is valuable for predicting the level of headline inflation in the future, when short-term shocks that may influence its level today have faded away, we want to cross-check our medium-term projections for headline inflation with these measures.
Before moving to this next topic, I should underline, however, that by international cooperation I do not mean coordination. The major economies of the world have to run their own monetary policies, attuned to their domestic conditions, in line with their responsibilities in terms of price stability.