As important as the actual inflation rate achieved, stands the fact that we have managed to stabilize the medium term expectations of markets regarding future inflation, at a value slightly below 2%. This is a very important result as it means that the Eurosystem is seen as credible enough to deliver long term price stability.
The institutional structure for housing finance and the role of government differ across countries. It is argued that the key determinants of market depth of housing finance in advanced economies are greater acceptability of housing as collateral and well defined legal rights of borrowers and lenders. The mortgage loans are typically long-term, 20–30 years.