The concept of robust convergence signals that we require a high degree of confidence that the inflation outlook has durably approached the inflation aim, while the condition that convergence should also be evident in realised underlying inflation means that future rate tightening will not run ahead of the hard data in terms of the out-turns for underlying inflation.
As we coordinate our efforts to ease monetary conditions to curb the growing risk that our economies would dip into recession; we need to be vigilant on the long term consequence of our decisions today, to avoid another financial turmoil in future.