欧洲央行-关于货币政策工具、战略和沟通的报告（英）-2025.6.pdfVIP

OccasionalPaperSeries

Workstream2:MonetaryPolicyTools,StrategyReportonmonetarypolicytools,

andCommunication

strategyandcommunication

No372

Disclaimer:ThispaperconstitutesstaffinputintotheGoverningCouncil’sdeliberationinthecontextoftheECB’s

2025monetarypolicystrategyassessment.Thispapershouldnotbereportedasrepresentingtheviewsofthe

Eurosystem.TheviewsexpressedarethoseoftheauthorsanddonotnecessarilyreflectthoseoftheEurosystem.

Contributors

Acknowledgements

ThisreporthasbeenjointlyproducedbytheEurosystemworkstream“MonetaryPolicyTools,StrategyandCommunication”,comprising

stafffromtheEuropeanCentralBank(ECB)andthenationalcentralbanks(NCBs)ofthosecountriesthathaveadoptedtheeuro.The

workstreamwassupportedbytwotaskforces:theTaskForceonToolsandCommunication(TF1)andtheTaskForceonModelling

relatedtotheReactionFunctionandPolicySimulations(TF2),eachsubdividedintoanumberofteams.Theworkstreamleadership

wouldliketothankAnnekatrinBergmannforoutstandingassistance.ThereportfedintotheGoverningCouncil’sdeliberationsonthe

2025assessmentofthemonetarypolicystrategy.

WorkstreamleadsTaskforceleads

ChristopheKampsSujitKapadia(TF1)

EuropeanCentralBankEuropeanCentralBank

email:christophe.kamps@ecb.europa.euemail:sujit.kapadia@ecb.europa.eu

MatthieuBussièreGiuseppeFerrero(TF1)

BanquedeFranceBancad’