At the same time, the toolbox available has been expanded to include macro-prudential policy tools and enhanced micro-prudential policy tools both for the SSM and the national authorities. The Greek authorities are no exception to this trend.
Core inflation is now projected to remain below 2 per cent until the end of 2010. Total CPI inflation should peak during the third quarter of 2008, fall below 1 per cent in mid2009, and then return to the 2 per cent target by the end of 2010.