On the basis of currently available information, this policy stance, while contributing to the preservation of price stability over the medium term, somewhat counterbalances the multiple factors which currently have an adverse effect on economic activity. In the current environment of heightened uncertainty, stability has become an even more precious asset.
As is well known, the Eurosystem's primary objective is to maintain price stability over the medium term, since price stability unambiguously represents a precondition for sustainable economic growth and rising employment in the long run.