This is important for all the Member States of our union, both individually and collectively, as we together face the challenges of the global economy. Responding to the crisis: bold actions in line with steadfast policy orientation None of these achievements happened by accident. They were only possible because our actions were enshrined in our medium-term oriented monetary policy strategy.
The financial crisis has changed neither our strategy, nor our objective. The ECB’s response to the crisis has always been in line with both our strategy and our medium-term objective of price stability. But we did broaden the range of our tools to adapt monetary policy to the challenges of the crisis.