The monetary policy measures we have put in place should support further improvements both in borrowing costs for firms and households and in credit flows across the euro area. To sum up, a cross-check of the outcome of the economic analysis with the signals coming from the monetary analysis confirms the need to implement firmly the Governing Council’s recent decisions.
The full implementation of all our monetary policy measures will provide the necessary support to the euro area recovery and bring inflation rates towards levels below, but close to, 2% in the medium term. Monetary policy is focused on maintaining price stability over the medium term and its accommodative stance contributes to supporting economic activity.