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Press release on the Monetary Council's meeting of 4 October 2004


At its meeting on 4 October 2004, the Monetary Council considered the latest money and capital market developments. Among other policy issues, the Council discussed the Bank’s stance towards setting the 2006 inflation target jointly with the Government and the conceptual framework for the November issue of the Quarterly Report on Inflation. At the meeting, Council members were briefed about the likely developments in the Bank’s balance sheet over the period leading to the adoption of the euro. In accordance with the Council’s meeting schedule published on 5 July 2004, changing the central bank base rate did not come up at Monday’s meeting.