Since the start of 1999, the ECB applies its monetary policy strategy, which is centred around a quantitative definition of price stability and the analysis of risks to price stability. This monetary policy strategy has helped the Governing Council to derive and explain monetary policy decisions.
Rather, it is an ex post description of that which already transpired, an occurrence caused by a healthy mix of investment in human and technological capital, a culture of capitalism, and sound regulatory and legal policies. As a result, meaningful erosion of any these core elements could impair the future evolution of financial products and jeopardize the continued development of markets.