In line with the Resolution of the European Council, exchange rate policy co-operation may be further strengthened, for example by allowing closer exchange rate links between the euro and other currencies in the exchange rate mechanism, where, and to the extent that, this is appropriate in the light of progress towards convergence. BIS Review 77/1998  -2-  2.
As our mandate is requiring, and as our fellow citizens are asking us, and they are very keen on asking us to deliver price stability. This is necessary for sustainable growth and sustainable job creation. And that is the reason why we recommend not only towards the social partners but also price setters to strictly avoid those second round effects.