ecb minutes, 2022-03-09
The relative resilience reflected three factors: first, the continued strong ECB monetary stimulus, including from the substantial stock of acquired assets and the ECB’s announced re-investment policies; second, the combination of a long period of low interest rates and the increase in the weighted average maturity of public debt, which reduced the sensitivity of the cost of debt servicing to rising risk-free rates; and third, the easing of pandemic restrictions as well as sound growth expectations, also in view of structural reforms and investments related to the Next Generation EU programme.
Sentiment: neutral
Topic: financial_stability