Mario Draghi’s speech in Jackson Hole? A game changer
In his speech in Jackson Hole, Mario Draghi has launched new thinking for a new economic policy in the Euro Area. His starting point is the analysis of unemployment (major…
Philippe Waechter's blog
The ECB changes the scale of its operations
The ECB has announced measures to stabilize the money market and measures which will bring more liquidity at a longer horizon in order to boost credit growth and a more…
Inflation in the Euro Area at 0.5% is too low and expectations on the ECB are probably too high
An inflation rate at 0.5% in May is clearly too low. But with contributions from energy and food sectors at 0, it means that this low inflation rate has nothing…
Low Inflation, Deflation and Economic Impact
Indebtedness and deflation do not go well together. I spoke about this issue a few weeks ago (see here in French) and Paul Krugman made a post on his blog…
The ECB must act to break deflation expectations
Will the ECB take into account the risk of deflation that each investor has in mind today? It is on this question that the ECB is expected at its meeting…
Low inflation rate in the Euro Area – A complex situation
The inflation rate in the Euro Area was at 0.5% in March. Except during the period with high volatility in oil price, in 2008/2009, the yearly change of the consumption…
ECB: Monetary Policy and the Euro Area
The post is available in pdf format here ECB-MonetaryPolicy The ECB is in a corner. Its rates are close to 0% with the refi rate at 0.25%. Lowering it at…