This is one line of reasoning that stands behind the two-pillar strategy of the Eurosystem, which takes account of short to medium run inflationary pressures within its economic analysis as well as of medium to long-run risks to price stability within its monetary analysis.
Our rapidly growing economy needs a deep and active domestic debt market more than ever, both to provide the more stable funding for infrastructure and other long-term needs as  BIS central bankers’ speeches  1  well as the investment outlets of a quality and variety that meet the diverse requirements of our savers.