In my remarks today, I want to discuss anecdotal and academic evidence for the relationship between monetary policy credibility and economic growth and to do so in two segments: first, the link between monetary policy credibility and inflation performance and, second, the link between inflation performance and longer-run economic growth.
*  *  *  Your Eminence, Minister for European Affairs, Members of the Italian Parliament, President of the Region, Mr Mayor, distinguished guests, fellow governors, ladies and gentlemen, I would like to welcome you most warmly to this first Euro-Mediterranean Seminar of central banks.