How should the ECB ‘normalise’ its monetary policy?
Analyse approfondie
15-11-2017
Discussions on how the ECB should reduce monetary policy accommodation as growth picks up in the euro area are gaining momentum. Given that the ECB’s main interest rate instrument was constrained by the zero-lower bound, monetary accommodation has also been implemented through a number of unconventional monetary tools, which would have to be phased out. As this is unknown territory, it is important to consider how to do that as well as what the ‘new normal’ in monetary policy should look like.
Analyse approfondie
Auteur externe
Grégory CLAEYS, Maria DEMERTZIS (Bruegel)
À propos de ce document
Type de publication
Mot-clé
- analyse économique
- Banque centrale européenne
- bilan
- ENTREPRISE ET CONCURRENCE
- FINANCES
- gestion comptable
- institutions de l'Union européenne et fonction publique européenne
- libre circulation des capitaux
- macroéconomie
- politique monétaire unique
- relations monétaires
- stabilité financière
- UNION EUROPÉENNE
- zone euro
- ÉCONOMIE
- économie monétaire