In member countries macroprudential tools are in place to combat these risks. Will the 1,1 trillion programme do the job and bring back growth and inflation? Liikanen: The programme is scheduled until September 2016. Then we look at the situation. If inflation has not reached the target of close to 2 percent, we will continue our efforts to reach our target.
What do think about the growing power of central banks who seem to rule the world economy? Liikanen: I think we would be happy to do less in the future, but it was important that we acted in the crisis, we ensured sufficient liquidity in the market and we cut interest rates. That was the lesson learned from the depression of the 1930ties.