In line with its mandate, the ECB will act taking into account economic developments both at the global level and within the euro area economy, as well as the further evolution of conditions in financial markets, including those that are most relevant for the transmission of monetary policy impulses.
In this sense, we will act whenever we anticipate that higher costs and price increases pose upward risks to price stability over the medium term. 8. The non-standard measures by the Eurosystem have been necessary to enhance its support of credit flows to the economy and to ensure a proper functioning of the transmission of monetary policy impulses to households and firms.