Overall, we continue to see no significant evidence of underlying domestic inflationary pressures building up in the euro area. This picture is broadly in line with forecasts recently released by international and private sector organisations. However, there continue to be upside risks to price stability over the medium term and these risks warrant continued vigilance.
This is a point stressed by Hansson (1993: p.4): “… consensus improves the political economy of sustaining economic reforms through the phase when most effects are negative”. 53. For more information on IReF see https://www.ecb.europa.eu/stats/ecb_statistics/cooperation_and_standards/reporting/html/index.en.html [https://www.ecb.europa.eu/stats/ecb_statistics/cooperation_and_standards/reporting/html/index.en.html] . 54. See Buch, Buchholz, Knoll and Weigert (2021). 55. See https://www.bis.org/review/r191002c.pdf [https://www.bis.org/review/r191002c.pdf] 56. See Hansson (1993: p. 19).