• We did not discuss Portugal situation in global economy meeting
• Rise in food prices seen as important, whether structural in nature important to analyse
• Asked on threat of a commodity boom, says rise in agro food, oil prices have to be followed very closely
• Inflationary threats present in emerging economies, do not see inflationary threat in advanced economies
• All in global economy meeting feel solid anchoring of inflation is key
• Big difference in job environment between economies
• Important to have better functioning of labour market to facilitate job creation when recovery picks up
• Capital inflows in emerging markets a very important issue
• On capital controls -the issue is what do you do, central bankers see soundness of macro policy as key
• Clear understanding that fiscal soundness, consolidation very important
• Common feature that since start of recovery figures have been better than expected, including euro area