As just described, the Bank intends to aggressively pursue monetary easing in a continuous manner, and judged that, by being committed to continuing such massive fund-provisioning next year onward at this stage, it would like to make the already accommodative financial conditions further accommodative.
We therefore expect inflation in the medium-term to remain below our aim. In any case, we are attentive to incoming information to assess whether the temporary increase in inflation gives rise to second round effects that could translate into a more permanent development. Overall, euro area banks have weathered the pandemic crisis.