A central bank’s strategy provides the framework for monetary policy decisions. It specifies monetary policy objectives, the instruments available for the implementation of these objectives as well as the indicators on which monetary policy decisions are based.
How a central bank formulates its monetary policy strategy and whether it publicly announces the strategy differs across countries. For further information on this topic please see What Good Is a Monetary Policy Strategy?
On October 13, 1998, the Governing Council of the ECB adopted the monetary policy strategy for the European System of Central Banks (ESCB) and presented it to the public. Following a thorough evaluation in 2003, some aspects of this strategy were adapted. For a detailed description of the Eurosystem’s monetary policy strategy and explanatory remarks on its components please refer to The Monetary Policy Strategy of the Eurosystem.
Monetary Policy Strategy
For further information please refer to