The board of this horizontal cloud supervisor could consist of representatives of the ESAs, the European Data Protection Board ENISA, and possibly other relevant supervisors. This, of course, will not happen overnight. Over the next few years we have to work to make cloud supervision under DORA as effective as possible.
If our assumptions and baseline scenario are confirmed, it will remain warranted to further withdraw monetary accommodation. The Governing Council will therefore continue to monitor very closely all developments so as to ensure price stability over the medium and longer term.