https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201126~c5c1036327.en.html  8/19  01/12/2020  Monetary policy in a pandemic: ensuring favourable financing conditions  Chart 10 Private consumption and consumer confidence in the euro area (year-on-year percentage change, percentage balance)  Sources: European Commission Directorate-General for Economic and Financial Affairs, Eurostat and ECB.
Until recently it was conventional wisdom that when nominal interest rates are close to zero we face so called liquidity trap and monetary policy cannot stimulate the economy  any more. Today as several major central banks are using negative interest rates we know this is not true.