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Press release on the Monetary Council' meeting of 22 November


22 November 2004

  1. At its meeting on 22 November 2004, The Monetary Council discussed the November 2004 issue of the Quarterly Report on Inflation. The Council is releasing its own press statement in relation to the Report.
  2. The Monetary Council considered the latest economic and financial developments and decided to reduce the central bank base rate by 50 basis points, from 10.50% to 10.00%, with effect from 23 November 2004. The Council is releasing a separate press statement on its assessment of economic conditions underlying the decision.