Future productivity performance will depend on the ability of governments to put into place the right policies and the ability of euro area economies to cope with the challenges of globalisation. This topic will conclude my talk today.
-8Category/Catégorie: Protected B/Protégé B  Quantitative tightening is happening, but it will take time to run its course. Conclusion It’s time for me to wrap up. The COVID-19 pandemic was certainly unprecedented, and it merited a strong response from the Bank. Let me re-emphasize that this level and type of intervention should not be expected with every episode of market turbulence in the future.