Price growth will accelerate moderately in the coming months, to reach 6% at the end of 2020. Fiscal and monetary policy measures that are aimed to support businesses and households will partially offset the decline in consumer demand. However, consumer demand will remain subdued for long after the quarantine ends. This will keep inflation from growing above the target level this year.
Mr Draghi: I think it is now the time to make one step further. At least for the countries that are in the euro we need some mechanism that basically induces greater cooperation among governments and greater discipline. Ultimately, price stability, budgetary discipline and economic growth are the three pillars of financial stability.