Price stability as the primary objective of the single monetary policy of the Eurosystem The Treaty establishing the European Community clearly states that the primary objective of the single monetary policy shall be to maintain price stability.
This concern may be higher now than in the past, since total assets under management in bond mutual funds have more than doubled in the past decade to about $ trillion this year. These funds now hold about one-tenth of the corporate bond market, and the redemption behavior of investors in these funds during a market correction is unclear.