The third condition is resilience: the adjustment in inflation has to be self-sustained even without additional net asset purchases. As I said, successive rounds of projections give us comfort that inflation is on a rising path and is converging toward our aim in the medium term.
As for the second criterion, the confidence interval of our baseline projections has both narrowed and become less skewed on the downside. Nevertheless, the upward trend of inflation is still subject to some degree of uncertainty and downside risks have not disappeared. And this trend is still dependant on quite some amount of monetary policy support.