Our best judgment is that potential growth for 2015 has fallen all the way to 1,8 per cent. And with actual growth expected to be 1,5 per cent, the output gap will increase somewhat. Policy and the problem of stagflation Let me turn now to our current policy stance.
In this environment of weak economic growth, we are sometimes encouraged, as the monetary policy authorities, to try and do more for growth. This is a valid and important contribution to policymaking, so I would like to spend a few minutes explaining the monetary settings we have in place now and why we think these settings are supportive of growth.