In the labour market technological advance, in particular the use of the internet allows for more services being offered with less intermediation at lower prices. Underlying inflation in the euro area is expected to rise only gradually over the medium term, supported by our monetary policy measures, the continuing economic expansion and the corresponding gradual absorption of economic slack.
They want them to be safe, quick and above all convenient. This also places demands on us as central banks and on the Europewide infrastructure we operate, such as the system for large-value payments that the Bundesbank improves and advances together with the Banco de España, the Banca d’Italia and the Banque de France.