This paper considers the past, present, and future of the ECB monetary policy. Looking backwards, the ECB has succeeded … in navigating through several crises. Looking forward, the paper examines some of the main challenges confronting the ECB …

This report focuses on the implications of the changed inflation environment for the ECB's monetary policy strategy …. The starting point of the report is the outcome of the Monetary Policy Strategy Review 2020-21. While the previous review … (ELB), the inflation surge that followed the COVID-19 pandemic underscores the importance of a monetary policy strategy …

the design of monetary policy. Second, monetary easing is somewhat dampened by the reduction in ECB's balance sheet. Third …In this paper, we review the recent economic outlook, policy decisions and communication of the ECB against the …, ECB has chosen to foreground uncertainty more explicitly in its public facing communication, potentially as a tool to …

the design of monetary policy. Second, monetary easing is somewhat dampened by the reduction in ECB's balance sheet. Third …In this paper, we review the recent economic outlook, policy decisions and communication of the ECB against the …, ECB has chosen to foreground uncertainty more explicitly in its public facing communication, potentially as a tool to …

in the U.S. While the sector has grown significantly, much of its capital is intermediated and allocated outside the EU … and monetary policy transmission in the Euro Area and the United States. While the U.S. financial system has long been … to geographic concentration, influence money market dynamics, and interact with monetary policy transmission. The paper …

environment the ECB is likely to face. It also draws conclusions regarding the enhancements that need to be made to the existing …This report offers a strategic view on the economic and inflation environment in the euro area as part of the monetary … policy strategy assessment 2025. It reassesses the factors shaping the inflation and economic environment in light of the …

purposes and of the ECB's foreign reserves. 2 The primary objective of the ESCB is to maintain price stability in the euro area …This is the third report on the climate-related financial disclosures of Eurosystem assets held for monetary policy …

This report discloses climate-related information about the ECB's euro-denominated non-monetary policy portfolios. The … report includes investments into the ECB's staff pension fund and its own funds portfolio. The ECB's efforts to reduce carbon … fund portfolios' green bond purchases are on track (Figure 1). The corporate bond and equity investments in the ECB's staff …