00:00Thank you for your question, and you anticipated my answer, which is that the European Central Bank is an independent
00:06institution.
00:08It's very clearly stated in the treaties and in the articles that we are not subject to political pressure of
00:16any sort.
00:17So whether it is praise or criticism, we try to stay completely away from those expressions,
00:25and we really work on the basis of the mandate, which is price stability.
00:30And on the basis of the data that we receive, I made it very clear that we also determine our
00:37position on the basis of inflation outlook,
00:41underlying inflation, transmission of monetary policy.
00:46And I mentioned this morning, we went from the height of 10.6% inflation in October 22, we are
00:55now down to 2.2% inflation.
01:00Heterogeneity between countries, I think it's a bit lower in Italy, but it certainly is a good move towards our
01:08target,
01:09and we are determined to reach that target on a timely basis.
01:13Thank you.
01:13Grazie.
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