The ECB’s new monetary policy strategy in practice Starting with our price stability objective, the new strategy incorporates two key innovations. First, we have adopted what I would call a simple and clear symmetric inflation target of two per cent over the medium term.
But (except in the United States) the opposite happened, because the underlying drivers of the wave – lower fertility and longer healthy lifespans – necessarily also created the conditions for higher participation in some groups in the population. Waves from ideas Some waves of change are initially spurred by something outside the economic system but their effects are heavily mediated by subsequent business decisions.