Central bankers must research QE’s effects on inequality, Italian deputy governor says
Central banks must improve their understanding of how expansionary monetary policy affects inequality in developed economies
Central banks must research whether expansionary monetary policy is increasing inequality in developed countries, said Bank of Italy deputy governor Fabio Panetta on November 20.
Panetta outlined three reasons why central banks should be interested in the topic during a speech in Amsterdam.
Firstly, an effective quantitative easing (QE) policy requires policy-makers to fully understand the transmission mechanism of monetary policy, including the effects of QE on inequality. Secondly, Panetta
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