And (3) the need to set a target of around 2 percent, which is becoming a global standard in terms of a price stability target, to avoid the re-emergence of excessive appreciation of the yen.
In this first phase, marked by strong regulatory constraints on the activity of Italian banks, foreign intermediaries helped decisively to expand the range of services, especially financial services, offered to customers. On the other hand, their scant presence in retail banking markets limited their contribution to the growth in competition.