In an economy like the one of the euro area, where expectations are well-anchored, monetary policy can be more patient and focused on the medium-term when confronting a cost-push shock.
The reverse side of the coin is that deviations of expectations from the inflation objective could prove more costly to correct at a later stage and therefore require a stronger policy response in terms of timing and or size. Expectations that inflation will not diverge from its anchor afford some short-term flexibility to respond to economic disturbances.