The European Central Bank should define a range around its inflation target to g...
FILE PHOTO: Reflection of the sign of the European central Bank is seen ahead of the news conference on the outcome of the Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, March 7, 2019. REUTERS/Kai Pfaffenbach/File Photo
The ECB has missed its goal for price growth of just under 2% for most of the past eight years despite increasingly aggressive stimulus measures, including sub-zero interest rates and buying 2.6 trillion euros worth of assets. “One way to achieve this would be the introduction of a symmetric band around the inflation aim, which would buy the central bank time and flexibility in responding to forces it cannot control,” Knot told an event in New York.
The ECB’s incoming president, Christine Lagarde, said the ECB would review its monetary framework, reviving a simmering debate about the central bank’s policy target.
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