To ensure a sustained convergence of inflation towards the price stability objective, it expects that official interest rates will remain at present levels for an extended period of time, and well past the horizon of the net asset purchases, which will run until at least the end of this year.
While I can see that regulatory reforms are burdensome for the European banking sector, especially in an already burdensome environment for banking – I’m thinking here of the low overall profitability, for example, or the assembly of the banking union – those different challenges, though they happen to coincide, should not be lumped together.