ECB's Draghi Says Inflation Rates 'Are Not There'

The video discusses the concept of price stability, defined as an inflation rate close to but below 2%, and the current state of inflation in the euro area. It explains why monetary policy remains accommodative and highlights the potential risks to financial stability due to low or negative policy rates. The video also examines asset valuation, particularly in real estate, and emphasizes that localized phenomena should be addressed with macroprudential tools rather than monetary policy. The role of the ECB and national central banks in implementing these tools is also covered.

What local situations of asset valuations are mentioned in the text?

What measures have been put in place in Ireland regarding macroprudential tools?