ECB PROBABLY WON'T MEET 2% INFLATION TARGET IN 2001
BUT 'CONFIDENT' HICP TO FALL BELOW 2% IN COURSE OF '02
EMU MONETARY DEVELOPMENTS SHOW NO FURTHER INFL. RISKS
ECB'S 2ND POLICY PILLAR ALSO SHOWS RECEDING INFL. RISK
EXTERNAL DEVELOPMENTS DAMPENING EMU GROWTH PROSPECTS
EUROZONE WAGES ARE RISING, BUT ONLY MODERATELY
SEES 'RECEDING' UPWARD RISKS TO PRICE STABILITY IN EURO ZONE