Accommodating monetary policy definition
The euro area challenges are part of a predicament shared by other advanced economies: decades of declining economic and productivity growth rates, prolonged periods of low inflation and an untamed financial sector fuelling asset price booms.
This constitutes a very challenging situation that cannot be solved by one policy area alone, be it monetary policy or any other.
Monetary policy continued to be exceptionally accommodative, with many authorities easing or delaying tightening.
For some central banks, the ultra-low policy rate environment was reinforced with large-scale asset purchase programmes.
to deliver this keynote lecture on unconventional monetary policy measures.