Thoughts on a review of the ECB's monetary policy strategy

Christophe Blot (1) , Jérôme Creel (1) , Paul Hubert (1)

1 OFCE - Observatoire français des conjonctures économiques (Sciences Po)

Time is ripe for a review of the ECB strategy: the economic context and the audience for communication have changed, and the tools for policy decisions and for analysing the environment have expanded. The definition of the inflation target, the twopillar strategy and the use of “non-standard” policy measures need discussion. A change in the ECB mandate is also worth discussing for it would permit to evaluate the current strategy and mandate against an alternative. This document was provided by Policy Department A at the request of the Committee on Economic and Monetary Affairs.

Keywords: Monetary policy strategy; ECB mandate

Domains: Economics and Finance

Christophe Blot, Jérôme Creel, Paul Hubert. Thoughts on a review of the ECB's monetary policy strategy. 2019. ⟨hal-03403251⟩