SpeechLow inflation and the rise of services
The shift of production and consumption away from goods and towards services helps explain why inflation in advanced economies is responding more slowly to monetary policy than it did a few decades ago, says Executive Board member Benoît Cœuré.
|Marginal lending facility||0.25 %|
|Main refinancing operations (fixed rate)||0.00 %|
|Deposit facility||− 0.40 %|