The ECB published a comprehensive study on monetary policy in 2004. Chapter 1 describes the main institutional aspects most relevant for understanding the ECB’s monetary policy. Chapter 2 provides an overview of the main economic and financial structures of the euro area economy, and chapter 3 describes the ECB’s monetary policy strategy. Chapter 4 explains how monetary policy decisions are implemented using the available monetary policy instruments and, as a conclusion, chapter 5 illustrates how monetary policy was conducted in the euro area during the first two years of the Stage Three of EMU.
A copy of the book in English may be obtained by free subscription from the Bank of Finland, but the Finnish and Swedish editions are out of print. The book is available in Finnish and Swedish in PDF format on our website.
The books can also be accessed and downloaded as an e-book from the ECB's website (www.ecb.int), section "Publications" (pdf). Hard copies can be obtained free of charge by writing to the ECB's Press and Information Division at the address given below.
European Central Bank
Press and Information Division
Kaiserstrasse 29, D-60311 Frankfurt am Main
Tel.: +49 69 1344 7455, Fax: +49 69 1344 7404
Internet: http://www.ecb.int
Reproduction is permitted provided that the source is acknowledged.