Greater business and household expenditure will, in turn, support inflation dynamics and make sure that they durably converge to the ECB’s aim.
Priorities for the ECB and Economic and Monetary Union The conventional and unconventional measures the ECB has taken over the past decade have been successful in addressing deflationary risks, restoring the functioning of the monetary policy transmission mechanism and providing vital support to the euro area economy. But the ECB does not operate in a vacuum and other economic policies matter too.