Gern, Klaus-Jürgen; Kamps, Christophe; Scheide, Joachim - 2001
, which may be around the sustainable rate of output growth. In the euro area, monetary policy is currently faced with the … limit of the ECB target range. Notwithstanding, the majority of AIECE institutes feel that the ECB's policy stance is too … tight and expect interest rate cuts in the near future ranging from 25 to 100 basis points. By contrast, the monetary policy …