As long as participating countries comply with the objectives of this European fiscal framework, their budgetary stance supports a stability-oriented common monetary policy and each of them has the fiscal instruments at its disposal to accommodate asymmetric cyclical fluctuations or temporary shocks.
Against this background, the  BIS Review 4/2002  3  Governing Council of the ECB concluded at its last meeting that it considers the current level of key ECB interest rates to be consistent with the maintenance of price stability over the medium term. The best contribution monetary policy can make to sustainable and non-inflationary economic growth is to maintain price stability.