6  With recent headwinds to growth dampening the inflation outlook, the ECB took further measures to support inflation. Nonetheless, given the characteristics of the inflation process that I have outlined, even now that economic slack appears largely absorbed, economists and financial markets alike see low inflation remaining persistent and converging to our inflation aim only sluggishly (Figure 5).
Figure 5 – Euro area inflation expectations  Inflation expectations euro area Percent, daily and quarterly data  2.2 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 15  16  17  Survey of Professional Forecasters 5y  18  Inflation swaps 5y5y  19  Inflation swaps 1y1y  Source: ECB and Refinitiv.