Monetary policy

The primary objective of the European System of Central Banks is to maintain price stability, as laid down by Article 127 of the Treaty on the Functioning of the European Union. Maintaining price stability is monetary policy’s best contribution to economic growth and job creation.

The objective of the Eurosystem is to maintain growth in prices of goods and services (i.e. inflation) at 2% over the medium term. The target is symmetric, which means that negative and positive deviations from this target are equally undesirable.