Categories
Uncategorized

ECB – The ECB’s New Stealth Mandate (Melvyn Krauss, Project-Syndicate)

Over the course of the pandemic, the European Central Bank has effectively adopted a new mandate, perhaps having concluded that its inflation target is unattainable without more fiscal stimulus. The new top priority appears to be financial solidarity within the eurozone, and it could not have come at a better time.

https://www.project-syndicate.org/commentary/ecb-targeting-north-south-interest-rate-spreads-by-melvyn-krauss-2020-12