Regarding the effectiveness of the ECB stimulus programmes, they have: - Contributed to a robust and rather broad based recovery: Eurozone growth is projected to reach 2.2 percent this year, its fastest rate in 10 years. Economic expansion has been ongoing for 17 consecutive quarters.
The recovery is having a profound effect on the labour market: around 6.4 million jobs have been created since 2013. - Added strong downward pressures on financing costs Rates have fallen steeply across asset classes, maturities and countries, as well as across different categories of borrowers.