ecb speech, 2024-05-28
In the same vein, when the ECB's Governing Council announced the Transmission Protection Instrument (TPI) in 2022 - an instrument that can be activated to counter unwarranted, disorderly market dynamics to ensure smooth transmission of monetary policy across the euro area - it clarified that eligibility requires governments to pursue sound and sustainable fiscal and macroeconomic policies and that purchases could not be conducted if persistent tensions reflected country fundamentals.
Sentiment: neutral
Topic: mp_economic_activity