The Governing Council will continue to monitor closely all developments in order to ensure that risks to price stability over the medium term do not materialise. Fiscal policies As regards fiscal policies, the ECB shares the view expressed in the draft resolution that fiscal consolidation is key and all the more necessary in good times in order to achieve longterm growth.
Clarity about the activities that qualify for CRA consideration, the area in which those activities will be considered, and the type of demographic and economic information examiners evaluate will go a long way toward promoting consistency. In addition to regulatory revisions, however, the agencies can promote consistency in other, nonregulatory ways.