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Draghi: Monetary policy and the economic recovery in the euro area
Over the course of the crisis, the making of monetary policy has become progressively more complex. We have operated in an environment where the limits of our traditional instruments have been tested, and where new instruments have had to be introduced. This has required adaptation, not just by those of us who decide on it, but also by the Watchers who observe it and attempt to anticipate it. Meetings such as this today have therefore taken on a special importance, since they represent an opportunity to communicate in both directions: for us to explain to you our assessment and our reaction function, and for you to ... (full story)
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