Monetary policy & inflation

Monetary policy sounds very abstract. But it is something that affects our daily lives and is important for all of us. After all, without price stability, it is difficult to know what we can afford today, tomorrow or in a year’s time. Monetary policy helps ensure stable price growth. This makes it easier to estimate future expenses and to make important decisions. In short: Monetary policy makes it easier to plan our lives. That is precisely why our main task in the Eurosystem is to conduct monetary policy that ensures price stability. Together, the central banks in the Eurosystem ensure that inflation – that is, the rise in prices – remains low and stable. The OeNB is Austria’s voice in monetary policy.