Specifically, we assessed inflation developments against the three conditioning criteria for net asset purchases: convergence, confidence and resilience. 1/4  BIS central bankers' speeches  As regards convergence, the June 2018 Eurosystem staff projections see headline inflation reaching 1.7% in each of the next three years.
These are the latest in a series of projections which foresee inflation converging towards our inflation aim of below, but close to, 2% over the medium term. Our confidence in the inflation path is also rising. First, the range of uncertainty around the inflation projections has narrowed.