First, the normalisation of inflation within the range in our mandate would be an important achievement, underpinning the credibility of the ECB, and ensuring price stability which is important for the well functioning of our decentralized economies dependent on price signals for the allocation of resources.
Second, those numbers would also represent a significant contribution to financial stability by overcoming the low nominal growth that has been portrayed as the underlying factor of the main risks for financial stability in the euro area in the recent years.