While these risk factors are the same for growth, their effect would be the opposite: they would increase inflation but reduce growth. The ECB’s monetary policy Based on the medium-term inflation outlook, the Governing Council decided to raise the three key ECB interest rates by 75 basis points, on top of the 50 basis point increase announced in July.
The evaluation of central banks’ governance practices is judged on the basis of the roles and responsibilities of the Management and the Board of Directors, and the appropriate interaction and interface between the central bank and the government.