There was significant employment growth last year, which contributed to keeping unemployment at a low level - currently 4.4 per cent. For 2004, Ireland’s growth prospects appear generally good - particularly as the US and East Asia economies improve. However, considerable uncertainties remain.
I ask for your understanding that my remarks on the economic outlook should not be construed as providing indications on the perspective monetary policy stance of the ECB, as we are in the so-called quiet period, during which the members of the Governing Council refrain from comments on the current outlook for monetary policy.