IW Monetary Outlook: ECB at the Crossroads

Markus Demary and Michael Hüther

No 27.2017, IW-Kurzberichte from Institut der deutschen Wirtschaft (IW) / German Economic Institute

Abstract: The ECB has left its policy interest rates unchanged despite inflationary pressures stemming from a strengthened recovery and from rising oil prices. Although the ECB's Governing Council did not discuss a renewal of the long-term refinancing operations, which will expire in 2020, its monetary policy stance is still too accommodative.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:iwkkur:272017

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