5 See, for example, Philip Daian, Steven Goldfeder, Tyler Kell, Yunqi Li, Xueyuan Zhao, Iddo Bentov, Lorenz Breidenbach, and Ari Juels (2019), “Flash Boys 2.0: Frontrunning, Transaction Reordering, and Consensus Instability in Decentralized Exchanges,” unpublished paper, Cornell University, arXiv, April, https://arxiv.org/pdf/1904.05234.pdf; Raphael Auer, Jon Frost, and Jose María Vidal Pastor (2022), “Miners as Intermediaries: Extractable Value and Market Manipulation in Crypto and DeFi,” BIS Bulletin 58 (Basel, Switzerland: Bank for International Settlements, June), https://www.bis.org/publ/bisbull58.pdf; Paul Barnes (2018), “Crypto Currency and Its Susceptibility to Speculative Bubbles Manipulation, Scams and Fraud,” Journal of Advanced Studies in Finance, vol.
In the context of its stability-oriented monetary policy strategy, the Governing Council of the ECB defined price stability as “a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the euro area of below 2%”. According to this definition, price stability “is to be maintained over the medium term”.