Monetary analysis

One pillar of the European Central Bank's framework for conducting a comprehensive analysis of the risks to price stability, which forms the basis for the Governing Council's monetary policy decisions. The monetary analysis helps to assess medium to long-term trends in inflation, in view of the close relationship between money and prices over extended horizons. The monetary analysis takes into account developments in a wide range of monetary indicators, including M3, its components and counterparts, notably credit, and various measures of excess liquidity. See also economic analysis (European Central Bank)

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