However, it is important to recognize that monetary policy alone will not be able to contain the rise in inflationary pressures. The Government will need to continue to alleviate supply-side constraints because of problems of market structure and distribution system.
Today the euro area can look back on more than five years of economic growth, with over nine million more people employed now than at the start of the recovery. In terms of growth, Latvia in particular has really shone during this time.