In particular, we shall push for the implementation of a centralized credit information bureau to improve the quality of financial information to investors, expand private sector access to credit, minimize exposure to risks of financial intermediaries, and lower cost of borrowing.
While in the United States headline inflation was already above 5 per cent and core inflation was 4.5 per cent, pushed by the demand factors discussed above, in the euro area, despite already higher gas prices, headline inflation was still below 2 per cent and core inflation was less than 1 per cent.