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ECB postponed the strategic review of its activities due to coronavirus

The European Central Bank (ECB) is postponing the monetary policy review it announced earlier this year for at least six months or until the middle of next year due to the coronavirus crisis.

"Due to the health measures introduced in various countries of the European Union, including the closures of public places and regulations prohibiting large gatherings in several euro area countries, auditions of the ECB and the Eurosystem NCBs, scheduled for the first half of 2020, are delayed until the second the ECB said Thursday.

According to the statement, the Governing Council of the European Central Bank (ECB) has decided to extend the timeline for the review of its monetary policy strategy. In the current situation, the decision-making bodies and staff of the ECB and the national central banks of the Eurosystem are focusing all their efforts on addressing the challenges posed by the coronavirus pandemic. The conclusion of the strategy review will therefore be postponed from the end of 2020 to mid-2021.

The annual ECB Forum on Central Banking in Sintra has been postponed to 10-12 November 2020.

The ECB continues to invite euro area citizens to submit their written proposals and comments about the ECB’s monetary policy strategy, in their euro area language, via the dedicated online ECB Listens Portal. The deadline for submissions has been moved to the end of August 2020.

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