Taken all measures together, from financial markets or from survey data, the information indicates that we have been successful in stabilising inflation expectations at below 2%. But these measures also indicate that we need to remain vigilant as regards any upside risks to price stability over the medium term.
At the end of June, Italian insurers' average solvency ratio had declined by just three percentage points with respect to the end of 2021, remaining at a robust 257 per cent. Available updates confirm this assessment: based on our high-frequency monitoring of capital adequacy and liquidity, this position had not substantially changed by August.