Since June 2014, the ECB has adopted a series of monetary policy measures to ward off the risk of a too prolonged period of low inflation. There is a strong rationale for why we have acted to lift inflation back towards our objective, which I laid out in a recent speech in Rome.[1] What I would like to discuss in my remarks this morning is how our measures work in achieving this. The ECB’s crisis response It is useful to briefly recall what led us to our current monetary policy stance and the particular measures the ECB has adopted to articulate it. Since autumn 2008, the ECB has been confronted with various episodes ... (full story)