ECB monetary policy: Past, present and future

This paper provides a comprehensive analysis of the ECB’s monetary policy, taking into account its historical performance, current challenges, and future prospects. It acknowledges the ECB’s success in effectively managing various crises in the past. However, it also highlights the key challenges that lie ahead for the ECB, including the impact of climate change, the rapid pace of digitalization, rising inequality, high levels of sovereign debt, and the need to complete the Banking Union. These factors pose significant complexities in achieving the ECB’s primary objective of maintaining price stability. The document has been sourced from the Economic Governance and EMU.

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