The 9th Journées of the Banque de France Foundation were held on 24 and 25 May 2012 at the Banque de France. The Journées of the Foundation provide an opportunity for the economics researchers who have received a grant from the Foundation to present their work in the framework of an international conference. The presentations were made in the three following areas: “monetary policy and prices”; “financial markets”; “financial stability in the global economy”. The panel session, chaired by Deputy-governor Anne Le Lorier, considered the question: “the definition of price stability: which prices should monetary policy stabilise?”