Future challenges for monetary policy On that note, while I believe that the forces already at work should in due course bring an end to the need for asset purchases, it is a matter for the ECB’s Governing Council to decide on the exact timing of such a move.
It is not a matter of boosting growth over the next one to two quarters with credit-financed spending programmes, but of increasing potential growth. No one is against growth. The crucial and rather difficult question to answer is how, in ageing societies, to increase potential growth.