The ECB's Governing Council sets the explicit numerical inflation target. This is currently set with an explicit ceiling of 2 percent and an implicit lower bound of 0 percent. This is the case of a range rather than a point, with no preference stated for the midpoint.
The BPSS lays down the policies and standards relating to the regulation and supervision of both the existing and the evolving payment and settlement systems. For efficiency enhancements and risk reduction, usage of the Real Time Gross Settlement (RTGS) System and other electronic payment mechanisms are being encouraged in a big way.