21 Likewise, aggregate data shows a dampening impact on euro area consumer price inflation of 0.05-0.2 percentage point per year on average.
While euro-area monetary policy causes alterations in many parts of the economy, its mandate also prescribes clear responsibilities – price stability is an overarching goal. Rather, the transformed landscape urges banks to concentrate on their own responsibilities. Banks still play an important role in the market economy. Nevertheless, they are also part of it.