On Thursday 8 July, the Governing Council of the European Central Bank (ECB) unveiled its new monetary policy strategy, which includes a symmetrical inflation target of 2% and the integration of climate change considerations into all aspects of its price stability efforts.
This new strategy is the result of a reflection launched at the beginning of 2020, but disrupted by the Covid-19 pandemic. “We have worked within the existing treaty and taken the ECB’s primary mandate of price...