*  *  *  I would like to express my sincere thanks to the Board of the Eastern Credit Union for inviting me to address you on the occasion of your Thirty First Annual General Meeting.
The positive growth outlook is supported by a favourable outlook for price stability in the euro area. While over the short term, inflation may show some volatility reflecting temporary factors, inflation rates are expected to remain in line with the Eurosystem’s definition of price stability of below[, but close to] 2% over the medium term.