Report on monetary policy tools, strategy and communication
Andrea Tosato & co-authors
This 
report focuses on the implications of the changed inflation environment for the ECB's monetary policy strategy assessment of 2025. It looks into the lessons learned from both the recent low inflation and high inflation periods, as well as from the transition from one to the other. The report underscores the importance of a monetary policy strategy that enables the Governing Council to effectively respond to major changes in the inflation environment.
ECB Occasional Paper Series No. 372