The matter is followed up with the laggard banks to know their constraints and impress upon them the need to devise strategies to gear up the credit mechanism for the sector. While the banks have achieved the target of 20% y-o-y growth in credit to the sector the target for the micro units is still an area of concern.
As far as monetary policy is concerned, growth will be supported by the very low short-term interest rates and by all the measures adopted by the ECB to foster the proper functioning of the euro area’s financial sector.