Outlook for economic activity and prices, and associating risk factors What is important here is how we can view the future of economic activity that once slowed.
And from March we will reduce our asset purchase programme holdings by an average of € billion per month[4]. After this pronounced tightening, we need to carefully reassess the medium-term outlook for inflation and the risks surrounding it. In this respect, risks to the inflation outlook are now more balanced than at the time of our projections in December. The economic environment is changing.