In addition, in a context of moderate economic  BIS Review 31/2003  1  recovery, wage growth is expected to remain compatible with the maintenance of price stability.The strong monetary growth also should not, for the time being, adversely affect the outlook for price stability.
Ladies and gentlemen, My feeling is that the Royal Institute and the National Bank have chosen for the colloquium of today a topic that is very much alive in the ongoing debate about the future institutional framework of European integration.