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ECB Signals Easing, But What’s Left in the Policy Arsenal?
By Advisor Perspectives
Acentral banker’s nightmare is losing control of inflation expectations. Whereas decades ago the challenge facing major central banks was reining in overly high inflation expectations – a process that ushered in central banks’ independence and inflation targets – the European Central Bank’s (ECB) challenge today is reviving unduly low expectations up toward its stated aim of “inflation rates below, but close to, 2% over the medium term.” ECB president Mario Draghi took a step in addressing this challenge at the 25 July Governing Council meeting, promising the council will act with determination at its next meeting in September.
Read more at Advisor Perspectives.