Since then, there has been considerable progress in education levels, but not enough to bridge the gap. In 2009, according to the latest OECD figures, 54 per cent of Italians aged  2  BIS central bankers’ speeches  between 25 and 64 years had earned a senior high school diploma, compared with the OECD average of 73 per cent.
Since mid-2014, our monetary policy stance has been determined by the combination of three instruments: first, low policy interest 1/7  BIS central bankers' speeches  rates; second, asset purchases in financial markets and targeted long-term refinancing operations for banks; reinforced by, third, forward guidance on both.