When we’re sufficiently far away, we need to make sure we are providing the necessary monetary stimulus to help inflation increase over time. That is actually our forecast. We do not expect the current inflation rate to remain where it is. We do expect that all the stimulus we are providing will help inflation to move up over time.
We now see it in wage inflation, which at the euro area level is now in line with our projections. What remains is converting the wage inflation into price inflation. Our projections say that this will happen in the next couple of years. Coming back to a country like Italy: it has been growing very slowly for a very long time now, 20 years.