In a statement announcing the review of its monetary policy strategy, the Euro-pean Central Bank (ECB) stated that it will, in addition to price stability, also take into account how “other considerations, such as financial stability, employment and environmental sustainability, can be relevant in pursuing the ECB's mandate”. The key question is which precise objectives shall be taken into account and how the ECB might reach them, keeping in mind that some trade-offs vis-à-vis the primary objective may arise. [First paragraph]