Besides the current challenges – besides Brexit, I’m thinking of topics such as the influx of refugees or the still unresolved sovereign debt crisis in the euro area – it has never been a better time, then, to start the conversation on the future direction of the European Union and to counter the Brexit shock with substantive and necessary reforms.
This is to help ensure that inflation reverts to within target range next year. And this is what we expect. We have not wavered in our commitment to price stability. Even as we deal with disruptions from external and domestic factors affecting the supply side, we have put to good use the monetary tools at our disposal.