As you know, we embarked on this journey in January 2020, shortly after I took office. Following a pause induced by the pandemic, the process was resumed last autumn and has since been progressing vigorously.
The review is designed to cover all relevant aspects of our monetary policy, in line with our promise not to leave any stone unturned.2 The Governing Council’s deliberations so far have been supported by a tremendous effort by many staff members of the ECB and national central banks, in a genuinely European effort. This collaboration has been organised into 13 workstreams.