With this generally upbeat scenario in mind, some observers in the markets and the media have questioned the appropriateness of the current stance of monetary policy. Certainly, the policy stance we have today is historically unusual.
5 ECB (2021) "Eurosystem reply to the Communication from the European Commission  "The EU economy after COVID-19: implications for economic governance" of 19 October 2021", 1 December. 5/5  BIS - Central bankers' speeches