The SSM is designed as a system composed of the ECB at the centre and the national competent authorities carrying out decentralised processes and procedures. As members of the supervisory teams and the decision-making bodies, the only way we can meet the high expectations of the SSM is if we all pull together.
According to the ECB’s latest forecast, real GDP is projected to grow by ca 4½% in both 2021 and 2022, and by 2% in 2023. Headline inflation is rising this year due to temporary factors. However, the core i.e.