This will reduce slack and create inflationary pressures again, and one day the member states and their governments should be prepared to live with less accommodation and higher rates. One should not assume that central banks would accept becoming subject to fiscal dominance, that is, a setting where monetary policy would be determined by the fiscal situation.
We are committed to our price stability objective. This is not to suggest that we should opt for an early withdrawal of monetary support. The 1/2  BIS central bankers' speeches  premature rate hikes by the ECB in the midst of the euro crisis in 2011 serve as a reminder of the risks of a premature withdrawal.