Villeroy on Path of ECB Policy: 'The Sprint Is Over'

The video discusses the significant deferred effects of past rate hikes compared to future decisions. It emphasizes the importance of maintaining a steady course in economic policy, transitioning from a short-term sprint to a long-term strategy.

What is the significance of the deferred effect of past rate hikes?

How do future decisions compare to past rate hikes according to the text?

What does the phrase 'stay the course' imply in the context of the text?

What does the text suggest about the transition from a sprint to a long-distance run?

In what way does the text indicate the approach to economic policy should change?