Press release on the Monetary Council’s meeting of 17 May 2004

At its meeting on 17 May 2004, the Monetary Council considered the latest economic and financial developments and left the central bank base rate unchanged at 11.50%.
The Monetary Council discussed the May 2004 issue of the Quarterly Report on Inflation. The Council is releasing its assessment related to the Report in a separate press statement.

The primary objective of the MNB shall be to achieve and maintain price stability. (...) Without prejudice to its primary objective, the MNB shall support the maintenance of the stability of the system of financial intermediation, the enhancement of its resilience, its sustainable contribution to economic growth; furthermore, the MNB shall support the government’s economic policy and its policy related to environmental sustainability, using instruments at its disposal.

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