In addition, several central banks – including the ECB – have also adjusted their monetary policy stance to take into account the impact of the financial market turbulences on inflation and real activity.
Over the past year, unemployment has fallen by 2.8 percentage points, and growth is estimated to be around 5 1/2 percent, according to a variety of private forecasts. But inflation is too high, and working people around the country are concerned about how far their paychecks will go.