The ECB’s monetary policy response to COVID-19

Article published in the Economic Review of September 2020

The ECB successfully calmed markets, limited fragmentation, and kept the bank lending channel intact. Looking ahead, the job is far from done as the post COVID-19 world will feature low growth and a big debt overhang.

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From 2019 onwards, the articles from the Economic Review are published in French and Dutch in the form of digests, their full version being available only in English.