Acting under uncertainty: The ECB’s shift toward discretionary monetary policy
On 11 June 2026, the ECB became the first major central bank to raise policy rates in response to inflation pressures stemming from the war in the Middle East, reversing…
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On 11 June 2026, the ECB became the first major central bank to raise policy rates in response to inflation pressures stemming from the war in the Middle East, reversing…
With inflation falling and rates now below peak, the ECB has entered a new phase of policymaking focused less on neutrality and more on agility. In an increasingly volatile global…
In 2024, the European Central Bank (ECB) introduced a “new monetary playbook,” emphasizing the transition from a rigid rulebook to a more adaptive and flexible operational framework to address today’s…
The ECB’s recent rate cut contrasts with the Fed’s recent decision to leave its target rate range unchanged, reflecting the divergent attitudes of the main central banks to inflation, with…