What is Ethereum's monetary policy?

Unlike Bitcoin, Ethereum's supply schedule wasn't etched in stone from genesis. While for Bitcoin the maximum supply, which is set at 21 million coins, is enshrined as a defining characteristic of the cryptocurrency, there is no upward limit to the total amount of ETH that can be issued. Instead, the issuance rate is subject to change along Ethereum's governance processes. Thus Ethereum's monetary policy can be said to be in the hands of the Ethereum community.
What is Ethereum's monetary policy?
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