It was asserted by the proponents of this strategy that the state control over allocation of the resources would promote the best interests of the poor. The intellectual support for this strategy was drawn from the success of the Soviet Union and the socialist economic model practised in that part of the world.
The ECB’s monetary policy in 2018 and its impact on the euro area economy Our monetary policy measures continued to contribute to very favourable financing conditions, supporting the euro area expansion throughout 2018. Lending rates for euro area firms and households remained close to their historical lows and growth in bank lending volumes continued the gradual upward trend observed since the beginning of 2014.