SpeechStructural problems require structural solutions
Low growth poses a dilemma, says Executive Board member Benoît Cœuré. The lack of fiscal space increases the burden on monetary policy, while lower interest rates reduce the scope of traditional monetary policy instruments. So to avoid the prolonged use of unconventional monetary policies, structural reforms are key.
|Marginal lending facility||0.25 %|
|Main refinancing operations (fixed rate)||0.00 %|
|Deposit facility||− 0.40 %|