International economy making swift recovery from COVID-19 crisis, but there’s still some way to go

During the COVID crisis, the Eurosystem has purchased securities on the markets and granted banks loans on favourable terms. These measures have helped avoid a deep recession and deflation in the euro area.

Inflation expectations play a key role in inflation projections. Different measures of inflation expectations point towards inflation remaining below the ECB's 2% target in the coming years.

The Finnish economy strengthened faster than expected in the course of spring and summer 2021.

Should monetary policy concern itself with financial stability? If yes, how should it do so?

As a part of their recent monetary policy strategy review, the ECB set up a workstream for the purpose of reviewing interactions between monetary and fiscal authorities in the euro area.