The ECB Turns 25: Crises and Challenges

The European Central Bank (ECB), founded in 1998, was tasked with maintaining inflation below 2%. Over the years, it has faced numerous challenges, including the financial crisis, Eurozone debt crisis, and the COVID-19 pandemic. The ECB has adapted by changing mandates, implementing negative interest rates, and launching bond-buying programs. Despite these efforts, it now faces new challenges as it raises rates at an unprecedented pace to combat inflation.

What significant program did the ECB implement in response to the pandemic?

What is the current action being taken by the ECB regarding interest rates?