The Monetary Policy of the European Central Bank in the 2020s
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| Year of publication | 2022 |
| Type | Chapter of a book |
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| Description | From the perspective of the monetary policy, the decade can be considered as a turning point. What seemed to be unconventional in 2008, became rather a new norm in 2010s, where the major central banks around the world were applying unconventional monetary policy tools in order to achieve their goals. There were several legal disputes connected with it. In the eurozone, there was a dispute over the legality of some asset purchase programmes. Given the current global challenges, such as the ongoing war in Ukraine, rising prices of food and energy, it is likely that the monetary policy in 2020s will be dealing with other challenges. Inflation above the target connected with potential problems in transmission mechanism caused by possible problems of some eurozone countries with financing their debt is likely to lead to original solutions. In this chapter, presenting a short view at the last decade, the author considers possible changes in the area of monetary policy that may come in 2020s. |
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