This will be a decisive element in ensuring a non-inflationary recovery in the euro area. BIS Review 70/2009  3  Conclusions Let me conclude. This is a time of unprecedented uncertainty and challenges. We all have to live up to our responsibility.
2  BIS Review 23/2001  In light of our long experience with flexible exchange rates and our strong reputation in inflation targeting, a number of emerging-market central banks have asked for, and received, assistance from the Bank in developing and operating policy frameworks based on inflation targets. We expect this to continue in the future.