We really witnessed a big dovish shift by the Fed. The ECB must follow suit. / Martin Sandbu, FT, 1 September 2020/
Indeed, the ECB is not bound by a treaty to the single duty of maintaining price stability and has the legal obligation to support the EU’s economic policies.
It means that the ECB has a multi-faceted mandate to support all major transformations needed to turn the European economy around. It has a green mandate, an SME mandate, a digital mandate, an innovation mandate - after completing the price stability mandate first.
Governor Matolcsy, MNB, the Central Bank of Hungary