Moreover, under the second pillar of the ECB's strategy, the Governing Council also evaluates indicators of financial market expectations derived from financial yields and prices. The Governing Council also looks at forecasts for the euro area produced by international organisations and the private sector.
Sources: Statistics Canada and Bank of Canada calculations  10 May 2022  20  30  December 2022 Last observation: December 2022  In summary, recent developments have reinforced our confidence that inflation is coming down. We now expect CPI inflation to fall to around 3% in the middle of this year and reach the 2% target in 2024 (Chart 11).