Conclusion Allow me to conclude. Yesterday, we decided that the current policy stance remains appropriate. Overall, developments since April further reinforce Governing Council’s view that higher interest rates will be warranted to keep inflation near target. Governing Council will take a gradual approach to policy adjustments, guided by incoming data.
That means that it will facilitate the formation of the yield curve that is deemed appropriate by taking account of the economic, price, and financial conditions from time to time so as to provide a sufficient level of monetary accommodation in order to achieve the price stability target.