Concluding remarks The convergence of inflation towards the Governing Council’s aim has recently slowed and partly reversed. The comprehensive package of measures decided last week will help to support the convergence of inflation to levels that are below, but close to, 2 percent in a sustained manner.
Overly lengthy proceedings have a negative impact on the functioning of the credit market and hinder the reallocation of resources to the production sector, with adverse effects overall on productivity, on the ability to attract foreign investment and on economic growth.