"Inequality is a cause for concern for all European institutions, since social cohesion is one of the statutory objectives of the EU. For the ECB, the question naturally arises as to whether monetary policy can make a difference, and whether it is mandated to do so. … The task of the ECB under the Treaty on the Functioning of the European Union is to ensure price stability in the medium term. It thus focuses on income and wealth stabilization rather than on the allocation of economic resources, or on redistribution." (Quoted from paper) (The paper available only through the link)