The definition of price stability Regarding the definition of price stability, the Governing Council confirmed the explicit quantitative definition announced already in October 1998, which is based on an objective and transparent  2  BIS Review 33/2003  measure, as provided by the HICP.
Turning to the evolution of bank credit, the flow of MFI loans to the private sector moderated in the course of 2008, largely on account of weakness in loans to households, especially for house purchase.