Politics and finance threaten independence – Schnabel
ECB board member says fiscal woes and deregulation may make central banks’ jobs impossible
Central bank independence is under threat from governments and the financial sector, Isabel Schnabel has said.
Speaking at the London School of Economics on May 7, the European Central Bank board member said fiscal dominance and a push towards deregulation were constraining central banks’ ability to rein in inflation.
She also said the ECB had received data on household inflation expectations from March, which showed that the “median eurozone consumer” expected inflation to be at 3% three years
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