MONETARY POLICY REPORT

CONTENTS

GENERAL ASSESSMENT

I. DEVELOPMENTS IN PRICES

II. MONETARY AND EXCHANGE RATE POLICY

III. DEVELOPMENTS IN FINANCIAL MARKETS

IV. PUBLIC FINANCE AND DOMESTIC DEBT STOCK

V. DEVELOPMENTS IN THE REAL ECONOMY

VI. BALANCE OF PAYMENTS

VII. DEVELOPMENTS IN THE WORLD ECONOMY

VIII. GENERAL ASSESSMENT:MONETARY POLICY OUTLOOK

ANNEX 1: DEVELOPMENTS IN STRUCTURAL REFORMS