Draghi Says ECB Can't 'Declare Victory' in Battle to Raise Inflation

The video discusses the importance of small businesses in economic growth and the role of monetary policy in managing inflation. It highlights the confidence in inflation converging towards the target but emphasizes the need for patience and persistence. The monetary policy framework is guided by data and time consistency, ensuring a stable economic outlook.

What is the significance of patience and persistence in monetary policy as mentioned in the text?

What factors are necessary for inflation to converge durably towards the objective?