The negative impact of population ageing can and must be offset by introducing measures to boost the contribution of the other two factors to euro area growth. 2  BIS Review 45/2004  To sum up: the ECB remains cautiously optimistic as to the trend in the European economy. Would you say that interest rates stand at the appropriate level?
You will have noticed that we have preferred since last April to cease using this term in our communiqués. Is it no longer appropriate to use the adjective “appropriate”? In a way.