4/5  BIS central bankers' speeches  One example of this is the joint examination teams that the ESAs will set up to conduct on-site inspections on the premises of critical ICT third-party service providers: these teams will comprise staff from both the ESAs and the relevant competent authorities.
Over the next few weeks, we will receive a considerable amount of data on economic activity for April and May, including the employment report for May and a report on May CPI inflation. Monetary policy should be forward-looking. It should be conducted so that longer-term inflation expectations are well anchored around our inflation target of 2 percent.