This is important both at European and at global level, where much remains to be done to strengthen the procedures and institutions that form the basis for cooperation. I thank you for your attention. 8  BIS Review 114/2010  BIS Review 114/2010  9
The volatility in world oil prices and uptrend in non-commodity prices remain the key risks to the inflation outlook. Nevertheless, these potential risks to inflation are seen to be tempered by some downside risks such as the firm peso and reduced dependence on imported energy sources.