monetary survey september 2003 1 contents introduction 3 2 inflation consumer price index producer prices in august 7 factors affecting the course of 8 aggregates foreign trade 14 real economy 22 4 developments 25 exchange market money and policy implementation 26 customer interest rates 28 annexes 33 capital 35 primary secondary euro area 36 rate 37 tables 39 selected indicators economic development sr 40 supply m2 43 loans 44 deposits balance payments from january to july 45 inflow direct investment into 1997 46 during june 47 volume 48 outflow slovakia 51