A: We are not close to the inflation target.....>

ECB: A: We are not close to the inflation target. That is why we have decided to

use the most flexible and effective instruments to get inflation back to the

pre-Covid path. On the GCC, the ECB is subject to the jurisdiction of the ECJ.

The ECJ judged the PSPP as in line with the ECB's policy mandate. The ECB has

taken note of the GCC judgement. We are confident that a good solution will be

found which does not undermine ECB's independence or the primary of European

law. We have reviewed the effectiveness and measured cost-benefit of the

measures in the policy recommendation. This is always reflected in the accounts.