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One of the most important objectives of the European Central Bank is the decision on its single Monetary Policy. The European Central Bank is the sole issuer of banknotes and bank reserves therefore the monopoly provider of the monetary base of an economy. This makes this institution the only one which has the needed instruments to make monetary policy.
The ECB determined “price stability” as main intention of its policy because there is a contemporary consensus that inflation slashes the performance of economies strongly. The aim of this paper is to analyze why and how successful the European Central Bank has several instruments to achieve this important goal.
The aim of this paper is to discuss the main goal of the European Monetary Policy and to analyze the instruments which can be used to maintain this goal. Finishing with a short evaluation about how successful the European Monetary Policy is.
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- Michael Frei (Autor:in), 2009, European Monetary Policy. Focusing on the Aim of Price Stability, München, GRIN Verlag, https://www.grin.com/document/230776
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