Monetary Policy Implementation

Monetary policy decisions adopted by the ECB’s Governing Council are implemented according to the set of instruments and procedures set out in the Central Bank’s Documentation on Monetary Policy Instruments and Procedures (MPIPs) and the Supplementary MPIPs. 

The operational framework is set out at follows:

• Open Market Operations 
• Standing Facilities
• Counterparty Eligibility 
• Collateral Framework 
• Asset Purchase Programmes