Suomen Pankki

ECB extends review of its monetary policy strategy until mid-2021


ECB press release 2 April 2020

  • Events to be postponed by six months due to coronavirus pandemic
  • Conclusion of review now expected for mid-2021

The Governing Council of the European Central Bank (ECB) has decided to extend the timeline for the review of its monetary policy strategy. In the current situation, the decision-making bodies and staff of the ECB and the national central banks of the Eurosystem are focusing all their efforts on addressing the challenges posed by the coronavirus pandemic. The conclusion of the strategy review will therefore be postponed from the end of 2020 to mid-2021.

Owing to the health measures in place across the European Union, including lockdowns of public spaces and rules prohibiting gatherings in several euro area countries, the listening events of the ECB and the Eurosystem’s national central banks – originally planned for the first half of 2020 – are now intended to take place during the second half of 2020. The annual ECB Forum on Central Banking in Sintra has been postponed to 10-12 November 2020.

The ECB continues to invite euro area citizens to submit their written proposals and comments about the ECB’s monetary policy strategy, in their euro area language, via the dedicated online ECB Listens Portal. The deadline for submissions has been moved to the end of August 2020.





About Suomen Pankki

Suomen Pankki
Suomen Pankki
Snellmaninaukio, PL 160

09 1831

The Bank of Finland is the national monetary authority and central bank of Finland. At the same time, it is also a part of the Eurosystem, which is responsible for monetary policy and other central bank tasks in the euro area and administers use of the world’s second largest currency – the euro.

Subscribe to releases from Suomen Pankki

Subscribe to all the latest releases from Suomen Pankki by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Suomen Pankki

Account of the monetary policy meeting, 29-30 April 202022.5.2020 14:30:00 EESTUutinen

Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 29-30 April 2020 1. Review of financial, economic and monetary developments and policy options Financial market developments Ms Schnabel reviewed the financial market developments since the Governing Council’s previous regular monetary policy meeting on 11-12 March 2020. Although the general risk-off mood had subsided and market liquidity was progressively improving, financial markets continued to show signs of fragility, mainly along four key dimensions. First, most euro area sovereign bond spreads had widened relative to German benchmark bonds, irrespective of their credit rating. In some jurisdictions, bond spreads had temporarily returned to, or even risen above, the levels observed before the announcement of the pandemic emergency purchase programme (PEPP), compounded by expectations of increased issuance needs and the high prevailing un

Pääjohtaja Olli Rehnin blogi: Vihriälän ryhmä ja kriisiin vastaavan talouspolitiikan kolme vaihetta15.5.2020 13:42:02 EESTTiedote

Vesa Vihriälän johtaman professoriryhmän 8.5. julkaistu raportti on painava kannanotto koronakriisin nostamiin kysymyksiin. Raportin ”Talouspolitiikan strategia koronakriisissä” laatijoiden ryhmään kuuluvat Vihriälän lisäksi Bengt Holmström, Sixten Korkman ja Roope Uusitalo. Raportissa käsitellään laajasti koronakriisiin liittyvää talouspolitiikkaa. Kommentoin tässä blogimerkinnässä joitakin raportin teemoja. Ensiarvoisen tärkeää on nyt vaimentaa konkurssiaaltoa ja työttömyyden lisääntymistä onnistuneella talouspolitiikan kokonaisuudella. Koronakriisiin on talouspolitiikassa jo vastattu laajalla rintamalla. Rahoitusoloja ovat keventäneet Euroopan keskuspankin rahapolitiikan toimet, pankkien pääomavaatimusten helpottaminen sekä mm. Suomen Pankin sijoitustoimintaan lukeutuvat suomalaisten yritystodistusten ostot. Lisäksi tärkeitä toimenpiteitä on jo tehty lomautusten helpottamiseksi ja yritysten tukemiseksi muutenkin. Vihriälän työryhmä viitoittaa tietä eteenpäin. Raportissa jaetaan talo

Anna Hyrske appointed Principal Responsibility Specialist at the Bank of Finland8.5.2020 15:00:00 EESTUutinen

Anna Hyrske, MSc (Economics) has been appointed Principal Responsibility Specialist at the Asset Management division of the Market Operations department, as of 20 July 2020. The appointment is for a fixed term of five years. Ms Hyrske will be responsible for developing responsible investment at the Bank of Finland and for defining the related strategies. She will also be the Bank of Finland's representative in the Eurosystem's work in the area of sustainability. Anna Hyrske has since 1999 been working for Ilmarinen Mutual Pension Insurance Company, most recently as Head of Responsible Investment. Her past positions include as a responsible investment expert and a portfolio manager, for example in Ilmarinen's Asian operations. Ms Hyrske has published several articles and books on responsible investment and has operated actively in various fora on responsible investment. The Bank of Finland's financial assets and the Bank's share of the foreign reserves of the European Central Bank are i

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom