Interest rate policy is one of the oldest and at the same time most controversial tools with which central bank affects the economy. In fact, it comes down to the central bank initiated changes in the levels of the so-called official interest rates (discount rate, rediscount rate, lombard rate,...

The prospects of economic growth in the Euro area depend, to a large extent, on the way in which its participants will solve the problems of economic stabilisation; they depend on whether the conceptual dogmas will prevail in the stabilisation policy or the tendency to make the stabilisation...