All in all, recent developments and forward-looking indicators together allow us to conclude that the main scenario for the euro area financial stability remains favourable going forward. The fact that the global and euro area financial systems have so far proven resilient to a series of adverse disturbances, while comforting, does not provide any ground for complacency.
1. Firms' cautious wage- and price-setting stance 2. Sluggish increase in households' tolerance of price rises 3. Intensifying competition 10  III. The Bank's Conduct of Monetary Policy  Chart 11  Strengthening the Framework for Continuous Powerful Monetary Easing (Decided on 31 July, 2018) Taking more time than expected to achieve the price stability target of 2 percent.