The OECS Authority has also agreed that its member countries should – •  Increase the levels of functional cooperation;  BIS Review 8/2005  3  •  Move to higher levels of economic integration, through the establishment of an economic union; and  •  Facilitate these two processes by revising the Treaty of Basseterre, to establish closer political union among the member countries.
What lies behind the weaker price developments is the largely adaptive mechanism of inflation expectations formation in Japan, that is, the fact that a mindset and behavior based on the assumption that prices will not increase easily have taken hold among economic entities due to their experience of deflation in the past.