The Council of the Central Bank of Montenegro (CBM) headed by the new governor, Radoje Zugic, adopted monetary policy guidelines for 2011 at its meeting on November 30th. The document underlined the need to continue strengthening the supervision of the financial and banking systems and reiterated the CBM's support for the government's policies to foster economic growth, as long as these policies did not compromise the bank's key objective of maintaining price stability. The inflation report for the third quarter of 2010, adopted by the council, expected inflation at end-2010 in the range of 0.6%-1.5%, and it noted that the Montenegrin economy had moved out of recession in the third quarter. A survey carried out by the CBM pointed to an increasing number of enterprises planning to hire new staff and increasing investments in the near future, which should ensure the gradual acceleration of economic growth in late 2010 and in the course of 2011.