The fourth team will include representatives from the Bank of Israel and the Ministry of Finance, and its function is to propose changes to remove the obstacles obstructing the conduct of monetary policy and to boost the development of the capital market.
BIS central bankers’ speeches  1  Euro area annual HICP inflation was 2.7% in January 2012, according to Eurostat’s flash estimate, unchanged from December. The average inflation rate for 2011 was 2.7%, mainly driven by higher energy and other commodity prices. Looking ahead, inflation is likely to stay above 2% for several months to come, before declining to below 2%.