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Monetary and foreign currency policy of the European Central Bank

The European Journal of Applied Economics - opened book
Authors: Vladimir Mladenović, Miroljub Hadžić

Received: November 13, 2013

Correction: November 22, 2013

Accepted: January 17, 2014




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Keywords: monetary policy, European Central Bank, inflation, interest rates, euro

Abstract: The paper analyzes how successful the ECB has been in pursuing its monetary and foreign exchange policy, which is, at the same time, a complex issue and crucial for the justification of its existence. Firstly, the ECB is trying hard to keep up with the global crisis and to maintain the stability of the euro. The main task of the ECB is to keep inflation below 2% p.a. This paper demonstrates that the ECB has managed to retain inflation within the required limits for a significant period of time, except for few relatively short-lived exceptions. By managing an adequate monetary policy the ECB has successfully accomplished its goals in the period of reference, as demonstrated by inflation trend results, monetary aggregate M3, and the level of interest rates.

APA format
Mladenović, V., Hadžić, M. (2014). Monetary and foreign currency policy of the European Central Bank. Singidunum Journal of Applied Sciences, 11(1), 16-24. doi:10.5937/sjas11-4902


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