Chief Economist for Financial and Economic Analysis
Sonsoles Castillo, Chief Economist for Financial and Economic Analysis at BBVA Research.She joined BBVA Research in 1997. She has been Chief Economist for Capital Flows, for Europe and for Emerging Markets. Areas of interest, Monetary policy, European integration and Financial Markets.Research assistant at FEDEA (Fundación de Estudios de Economía Aplicada).Gained a Scholarship for Research Staff Training at the Faculty of Economics of the University of Alcalá de Henares.BA Studies Economics, University of Alcalá de Henares.
The current inflationary process is still in full swing, and the action of central banks, the ultimate guarantors of price stability, will be greatly intensified from now on.
Now that major central banks are preparing to withdraw the monetary stimulus packages they launched to tackle the COVID-19 crisis, it seems a good moment to assess the ECB's actions during the last two years, what it has achieved and what it has prevented.
We take a look at the monetary policy measures adopted by the ECB in response to COVID-19, evaluating their effects on financial markets during the pandemic, examining their quantitative impact on economic activity and analyzing the challenges the central bank faces.