We expect the key ECB interest rates to remain at their present levels at least through the summer of 2019, and in any case for as long as necessary to ensure the continued sustained convergence of inflation to levels that are below, but close to, 2% over the medium term.
2  Irish Independent obituary  3 Fiscal frameworks have also been strengthened in Ireland and across the EU, with an enhanced role for independent  fiscal councils in monitoring and assessing the fiscal policy stance. 4 Blanchard (1986) explains how a wage price spiral can emerge when wage and price setting is staggered.