Moreover, domestic demand continues to be supported by favourable financing conditions, a robust labour market and steady income and profit growth. Since we announced a combination of unconventional measures to provide additional monetary policy accommodation in June 2014, financial conditions have eased considerably.
Risk-free interest rates have shifted downward at all maturities (Chart 1), reducing the basis used by banks and financial markets in determining financing conditions. Chart 1: EONIA forward curves estimated from OIS (percentages per annum)  1 / 11  BIS central bankers' speeches  Sources: ECB. Latest observation: 7 November 2018 for realised EONIA.