Peter Praet: Providing monetary policy stimulus after the normalisation of instruments Remarks by Mr Peter Praet, Member of the Executive Board of the European Central Bank, at the conference "The ECB and its watchers XX", Frankfurt am Main, 27 March 2019.
* * * The financial crisis and its aftermath ushered in the need for central banks across the world to broaden the means by which they achieve their statutory mandates.1 The ECB’s responses to the first two phases of the crisis, namely the immediate aftermath of the collapse of Lehman Brothers and the euro area sovereign debt crisis, were largely centred on conventional tools being used in unconventional ways.