We have come to realize that around 40 percent of our population may be excluded from any sort of financial services. Also from a growing body of international research on policy implications and successes, it is widely acknowledged that the contribution of microfinance and inclusive finance is important for the sustained economic well being of a country in the long term.
Long-term inflation expectations in the euro area, whether based on surveys or extracted from financial indicators, have been exceptionally resistant to sudden short-term price changes. We will ensure that inflation expectations remain impervious to short-term changes in inflation, even in the face of sharply falling inflation.