[15] The second concern is that a notable gap has emerged between actual investment and the investment levels that could have been expected if the economy had evolved along its pre-pandemic growth path (Slide 7, left-hand side). This shortfall significantly predates the tightening of monetary policy.
As I said in my last press conference, to safeguard the successes of the past, the Governing Council is in a position of strong vigilance to ensure that risks to price stability do not materialise, thereby making an ongoing contribution to sustainable economic growth and job creation in the euro area.