mnb statement, 2005-06-20
Although, in the short run, the prices of goods, especially those of unprocessed food, which monetary policy can influence only to a lesser degree, pose a higher inflation risk than expected earlier, this leaves the medium-term trend in consumer prices unaffected and, thus, as regards the 12 to 18-month time horizon, the most important one from a monetary policy perspective, it does not render the attainment of the inflation target set for end-2006 difficult.
Sentiment: neutral
Topic: mp_inflation