Monetary policy supports growth in conjunction with other economic policy

Abstract

Thanks to the Eurosystem’s comprehensive monetary policy measures, monetary conditions in the euro area have been favourable. This is supporting recovery in the euro area economy. Euro area GDP is, in fact, expected to grow at a moderate pace in the immediate years ahead, and inflation is expected to gradually accelerate. This view is also supported by the Bank of Finland’s forecast for the global economy. Risks to the economic recovery relate mainly to developments in the external environment.