Although I still prefer to speak of financial market correction, I believe I showed you that both elements are indeed present today. I thank you for your attention. BIS Review 108/2008  5
Thus far, the ECB Governing Council has aimed to keep inflation rates in the euro area below, but close to, 2% over the medium term. An explicitly symmetric formulation of our policy objective as an inflation rate of 2% over the medium term would, I believe, be clearer and easier to understand. It could help to keep inflation expectations firmly anchored.