In the revised monetary policy strategy of the European Central Bank (ECB), "price stability is best maintained by aiming for two per cent inflation over the medium term", with "symmetric commitment" to this target. "Symmetry means that the Governing Council considers negative and positive...

The ECB's price stability mandate has been defined by the Treaty. But the Treaty has not spelled out what price stability precisely means. To make the mandate operational, the Governing Council has provided a quantitative definition in 1998 and a clarification in 2003. The landscape has changed...

In the context of sovereign debt crisis in Europe, a crisis entirely felt also in the direct relation between credit institutions, the National Bank of Romania (NBR) adopted a monetary policy strategy meant to determine the reinforcement of its image, by initiating in the autumn of 2011 a new...

Im Jahr 2024 feiert der Euro sein 25-jähriges Bestehen. Die Stabilität des Euroraums und damit der europäischen Gemeinschaftswährung wurde seit dem Jahr 1999 mehrfach auf die Probe gestellt, insbesondere während der weltweiten Finanzkrise 2008/09 und der sich anschließenden europäischen...

Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else has counted for little more than noise on a relative...

On 1 June 2018 the ECB celebrated its 20th anniversary. This paper provides a comprehensive view of the ECB's monetary policy over these two decades. The first section provides a chronological account of the macroeconomic and monetary policy developments in the euro area since the adoption of...

On 1 June 2018 the ECB celebrated its 20th anniversary. This paper provides a comprehensive view of the ECB's monetary policy over these two decades. The first section provides a chronological account of the macroeconomic and monetary policy developments in the euro area since the adoption of...

Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else has counted for little more than noise on a relative...

Im Jahr 2024 feiert der Euro sein 25-jähriges Bestehen. Die Stabilität des Euroraums und damit der europäischen Gemeinschaftswährung wurde seit dem Jahr 1999 mehrfach auf die Probe gestellt, insbesondere während der weltweiten Finanzkrise 2008/09 und der sich anschließenden europäischen...