This target is achieved through 3 (three) main strategies, namely: (i) Encouraging Digitalization and Strengthening of the Financial Market Infrastructure (FMI), (ii) Strengthening the Effectiveness of Monetary Policy Transmission, and (iii) Developing Sources of Economic Financing and Risk Management.
Finally, I will discuss the issue of inflation and growth differentials within the euro area. I will explain that these divergences are of a similar size to those observed within the United States. Moreover, inflation differentials are often a normal and welcome equilibrating mechanism within a large currency area. Similarly, persistent real growth differentials may reflect a normal and healthy catching-up process.