ECB Monetary Policy

Past, Present and Future
  • Kerstin Bernoth (DIW Berlin)
  • Sara Dietz (LMU München)
  • Rosa Lastra (CCLS, QMUL)
  • Atanas Pekanov (WIFO)

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 in the years ahead with climate change, digitalisation, inequality, sovereign indebtedness, and the completion of Banking Union complicating the pursuit of the price stability primary objective.