These were reasons why we raised interest rates by 25 basispoints in July this year. Looking ahead, in particular due to the direct and indirect effects of commodity price increases, the annual HICP inflation rate is likely to remain well above a level consistent with price stability for quite some time, moderating only gradually in 2009.
The WAMI, in collaboration with Experts from member countries and the Technical Committee, has been taking concrete steps and providing some viable  2  BIS Review 33/2003  solutions to various technical issues involved in the arrangement.