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Challenges ahead for the European Central Bank: Navigating in the dark?

Gregory Claeys, Maria Demertzis and Francensco Papadia (2019), «Challenges ahead for the European Central Bank: Navigating in the dark?» Bruegel, 25 Σεπτεμβρίου

Since the second half of 2018, signs of a slowdown have been piling up in the euro area. The ECB will face major challenges in this potentially difficult period: its main tools are nearly exhausted, the monetary union in which it operates is still incomplete, and it lacks the understanding of what the ‘new normal’ looks like. The authors, therefore, urge the ECB to review its strategy and framework to be able to face these challenges.

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