Some people are therefore already advising the ECB to pursue a particularly restrictive course right from the outset so as to nip any mistrust in the bud, as it were. Such an uncompromising approach would inevitably give rise to tensions within the Council.
This gap is the difference between our aim of an inflation rate below but close to 2% over the medium-term and our projection for inflation over that same horizon, based on our current monetary policy stance and the information on the state and evolution of the economy that we have access to today.