What it will also do is create a more efficient financial system that can better support sustained economic growth. The second objective of the European capital markets union is to deepen the integration of the capital markets in order to improve risk sharing.
It simply acknowledges that inflation will obviously 4 / 14  BIS central bankers' speeches  vary through time and that there is probably not much to be gained from being too precise about the appropriate inflation rate, whilst also recognising that the specification of the inflation target plays an important role in anchoring inflation expectations.