Not least in the face of the ongoing tensions in financial markets, the monetary analysis helps to support the necessary medium-term orientation of monetary policy by focusing attention on the upside risks to price stability prevailing at medium to longer horizons. Moreover, a thorough assessment of the money and credit data has provided an important insight into bank behaviour and financing conditions.
8 - Household financial liabilities (ratios to GDP) 1.2 1.0  1995 2006  0.8 0.6 0.4 0.2 0.0 Euro Area  US  UK  Japan  Sources: Eurostat, Flow of Funds Accounts of the United States, Central Statistical Office - UK national accounts, Bank of Japan. 2.