ECB deploys holistic toolkit to tackle trilemma, France backs looser EU debt rules
Wednesday 31 March 2021 – Vol.12 Ed.13.3
Commentary: ECB deploys holistic toolkit to tackle trilemma
By Agnès Belaisch and Matteo Cominetta
Not unlike other central banks, the European Central Bank faces a difficult trilemma. Normalising interest rates, ensuring financial market stability and preserving the independence of its policy feels like an impossible trinity. Some see the adoption of yield curve control as...