Yves Mersch: Reflections on monetary policy in the euro area Speaking points by Mr Yves Mersch, Member of the Executive Board of the European Central Bank, at the Eurofi conference, Sofia, 27 April 2018. * * * While the recent flow of data points towards some moderation in the on-going economic expansion, growth is still expected to remain solid and broad based.
Monetary policy measures introduced since 2014 have been instrumental in supporting euro area growth and employment. Underlying inflation continues to be subdued and have yet to show convincing signs of a sustained upward trend. At the same time, wages continue to edge higher and should contribute to price pressures.