Euro area inflation remains subdued, but confidence in inflation converging towards the ECB's objective has strengthened. Owing to these uncertainties, the conduct of monetary policy in the euro area rests on patience, persistence and prudence.
After a prolonged period of weakness, the Finnish economy has begun to recover. When the economy develops the capacity to renew itself in such a way that productivity improves and employment opportunities are generated, the growth outlook will improve. At the same time the risk of increasing marginalisation and lack of opportunities will be reduced.
A slower recovery in the euro area would present new challenges for monetary policy. The ECB Governing Council monitors all incoming information. The asset purchase programme provides sufficient flexibility in terms of adjusting the size and duration of the programme. The package of articles on monetary policy and the international economic forecast will be published in English on 2 October 2015.