资源环境科技发展态势分析平台

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The COVID-19 crisis has compounded the uncertainty that has
come to characterise the European economy. We explore how
this uncertainty manifests itself in terms of ECB decision-making
and the long-run challenges the ECB faces. Confidence in ECB
actions will come from the contingency scenarios it considers
and communicates on, and from the adoption of potential
policies for a wide range of such scenarios. Greater clarity around
the ECB’s inflation target and surrounding tolerance bands
would also be beneficial.

This document was provided by the Policy Department for
Economic, Scientific and Quality of Life Policies at the request of
the Committee on Economic and Monetary Affairs (ECON) ahead
of the Monetary Dialogue with the ECB President on 19
November 2020.