And there is certainly good reason to believe that, given wage prospects and the state of expectations, headline inflation will progressively converge to 2 per cent as the serious disturbances generated by the dramatic evolution of the Russia-Ukraine war fade away.
However, the supervisory system in the Netherlands has been undeniably successful. Dutch banks – like the financial system as a whole – have prospered and steadily improved their efficiency, and the stability of the system as a whole has generally withstood structural changes and episodes of financial market turbulence.