Here, I would like to spend some time to explain the mechanism behind this. First of all, by committing to achievement of the 2 percent price stability target at the earliest possible time and announcing the continuation of a new phase of monetary easing into the future to underpin that commitment, the Bank aims to drastically change people’s expectations and raise inflation expectations.
I will stop there and hand the floor to our guest. Dear Madis, over to you  2/2  BIS - Central bankers' speeches