In this context, priority should be given to measures that incentivize investment in infrastructure, both material and immaterial, and labour market participation. Resources should be concentrated on measures that are clearly directed at supporting economic activity effectively. The common monetary policy responds to the situation of the euro area as a whole.
Last week the ECB’s Governing Council, in view of ongoing economic growth and of the gradual increase in inflationary pressures, reiterated its intention to end the net asset purchases at the end of this year.