There are two that I am going to highlight: the New Payments Platform and efforts to reduce fraud. I will finish up with a few remarks on one area of the payments system where we would like to see continued competition.
Inflation expectations for the euro area over the medium to long term continue to be firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2%. As stated previously, we are now experiencing a prolonged period of low inflation, which will be followed by a gradual upward movement towards inflation rates below, but close to, 2% later on.