Monetary policy The apparent similarities between monetary policy and Coca-Cola are not confined to their reputation as a “universal product"; indeed, they are both widely considered to be a shot in the arm. And that stimulating effect is increasingly coming to the fore in the economic data for the euro area.
At 9.5 %, the unemployment rate is the lowest it has been for eight years. The growth rate of 0.5 % in the first quarter means that the economy has been expanding for 15 consecutive quarters. For full-year 2017, the ECB staff projections prepared in early March forecast growth of 1.8 %.