Jürgen Stark: Monetary policy and the money market – key principles and recent experience Speech by Mr Jürgen Stark, Member of the Executive Board of the European Central Bank, at Bayerischer Bankenverband, Munich, 15 November 2007. * 1. *  *  Introduction  Ladies and gentlemen, It is a great pleasure to speak today here, in Munich.
This gathering provides an excellent opportunity to share with practitioners my views on the interaction between the conduct of the ECB’s monetary policy and the developments in the money market. This is an issue that has become very topical of late due to the recent financial turmoil. In general, the functioning of the money market and its interaction with monetary policy receives little attention.