FRANKFURT, April 2 (Xinhua) -- The European Central Bank (ECB) said Thursday that it will extend the timeline for the review of its monetary policy strategy by six months, as the ECB and the national central banks in the 19-member eurozone are focusing all their efforts on addressing challenges posed by the coronavirus pandemic.
The conclusion of the strategy review will be postponed from the end of 2020 to mid-2021, and a series of listening events originally planned for the first half of 2020 are now scheduled for the second half of 2020, the ECB said in a statement.
The ECB officially launched the review of its monetary policy strategy in January. The current monetary policy strategy was adopted in 1998 and some of its elements were clarified in 2003.
The ECB reiterated that the process will be guided by the principles of thorough analysis and open minds, and will engage with all stakeholders, including the academia and the general public.
The ECB also said that it will continue to invite euro area citizens to submit their written proposals and comments about its monetary policy strategy via an online portal.
