BIS central bankers’ speeches  1  The creation of the Single Supervisory Mechanism, a collective achievement Fragilities in the banking sector were a major risk that had to be directly confronted. In a context where the integrity of the euro area had been threatened, the Council and the Parliament entrusted the ECB with supervisory tasks.
The consumer price index excluding mortgage interest cost (CPIX) inflation peaked at 13,6 per cent in August 2008 and declined to 10,3 per cent by December.