It has shown that it will fight risks to price stability on the downside as vigorously as those on the upside. And it has established that it will use all the tools within its mandate to secure its mandate – without ever exceeding the limits of the law.
The European Court of Justice has affirmed the legality of the measures we have taken, and it has confirmed the ECB’s broad discretion in using all its instruments in a necessary and proportionate way to achieve its objective.