To reap the gains envisaged by the NRRP and stand ready to cope with ongoing global challenges it is of paramount importance that, in a context of relaxed financing conditions for households, firms, and sovereign, the investment plans and reforms are implemented in a prompt, effective and efficient way. 2/2  BIS central bankers' speeches
Thus, the mechanism in which the rise in observed inflation alters people’s inflation outlook and behavior, which in turn raises observed inflation, continues to operate. This means that people’s inflation expectations will likely follow an uptrend and inflationary pressure from the rise in inflation expectations will also increase. III.