Adjustments were made in view of the outlook for the economy and prices, with the Bank judging that sustained economic growth would continue with a virtuous circle of production, income, and spending in place, and that consumer prices would be likely to increase moderately in the long run in line with the "understanding of medium- to long-term price stability."
A European solution has to be found by the banks which is also agreeable to the European competition authority. But SEPA direct debits have to be rolled out in a little more than one year from now. This will hardly be enough time to find a comprehensive solution that meets all needs and answers all concerns.