Eurozone needs fiscal stimulus – ECB’s Schnabel
ECB board member says raising eurozone inflation needs fiscal evolution and structural reform
Eurozone governments will need to design new fiscal policies in order to boost inflation, European Central Bank executive board member Isabel Schnabel said.
In a speech today (February 26), Schnabel said monetary policy faces severe difficulties to providing additional stimulus when rates are close to the lower bound. She also said central banks have little ability to influence the supply side of the economy.
“Whether low inflation will prevail in the medium term will depend not only on
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Israel holds policy rate
Move comes despite higher inflation expectations
ECB is ready to cut rates, chief economist says
Next steps in ECB’s easing cycle will be “bumpy” and “gradual”, says Philip Lane
ECB paper recommends central fiscal instrument
Governments’ ability to delay fiscal consolidation should be limited, researchers argue
FOMC members concerned over US inflation, minutes show
Some committee members sought to maintain pace of Fed’s balance sheet selloff
IMF says Iceland’s path is clear to easing rates
Housing, bank supervision remain a concern and central bank independence needs safeguards
Nigerian central bank raises rates for third consecutive time
MPC says tight policy is starting to work but calls for more action on food security
Hungary close to end of easing campaign as it cuts rate by 50bp
Vice-governor Virág hints at “one more cut” in June
What is forecasting for? Bernanke and the future of BoE projections
The Bernanke review pushes central banks to rethink the role of forecasts in policy-making
Most read
- What is forecasting for? Bernanke and the future of BoE projections
- Central bank of the year: Central Bank of Brazil
- China links CBDC to Hong Kong’s fast payments system