While three in four euro area citizens think the single currency is good for the European Union and two in three think it is good for their country, less than half of citizens trust the ECB. [2] In my remarks this morning, I would like to make two points that speak to these concerns.
The first is that there is no contradiction between inflation being low and monetary policy being effective. Central banks have achieved great success in recent years. Their achievements, however, and this will be my second point, are of little avail if the public does not recognise or understand them.