Price Stability |
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Article 4- (As amended by Law No. 4651 of April 25, 2001)
"The primary objective of the Bank shall be to achieve and maintain price stability. The Bank shall determine on its own discretion the monetary policy that it shall implement and the monetary policy instruments that it is going to use in order to achieve and maintain price stability.
The Bank shall, provided that it shall not be in confliction with the objective of achieving and maintaining price stability, support the growth and employment policies of the Government."
Price stability denotes a level of sustainable inflation low enough that economic agents may ignore it in their investment, consumption and saving decisions. The largest contribution that the Central Bank has made and can make to strong, stable and sustainable growth and increased employment is to achieve and maintain price stability. |