Single and dual mandates often result in same policy – Schnabel
AI productivity boom yet to show up in eurozone data, ECB board member adds
Isabel Schnabel has rejected calls for a Federal Reserve-style dual mandate for the European Central Bank.
In a speech today (March 6), the ECB board member said: “In practice, stabilising inflation and stabilising employment often leads to the same policy response.” When demand weakened, inflation tended to fall and unemployment would rise, which meant both mandates dictated easing. Conversely, when demand overheated, inflation would rise and labour markets would tighten, which meant rate hikes
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