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Canada Commerzbank Expert: Ex-ECB President Draghi influences inflation in the eurozone Further

05:05  15 september  2021
05:05  15 september  2021 Source:   finanzen.net

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Nearly two years after Mario Draghi left Frankfurt, the former European Central Bank president is still influencing inflation in the euro region through his role as Italian prime minister, according to Commerzbank AG Chief Economist Joerg Kraemer. “If he were to push through the urgently needed reforms and get his home country back on its feet economically, the ECB would no longer feel pressured to prop up Italy,” the Frankfurt-based economist wrote on Monday in a report that was based on an article for the FAZ newspaper.

Bloomberg reports that according to Commerzbank AG Chief Economist Joerg Kraemer, nearly two years after Mario Draghi left Frankfurt, the former European Central Bank president is still influencing inflation in the euro region through his role as Italian prime minister. That will force the ECB to keep monetary policy loose, he said, risking that faster inflation eventually becomes entrenched. “Italy will remain dependent on help from the ECB , which will ensure low government financing costs with bond purchases and negative key interest rates,” Kraemer said, concluding that

Mario Draghi has not only received a popularity as a boss of the European Central Bank. As the Supreme Currency Housing, he introduced minus interest and focused primarily at the inflation target for the eurozone. An economic expert now accuses him to influence inflation in the eurozone - in another position and a different goal.

Mario Vedder/Getty Images © Provided by Finanzen.net Mario Vedder / Getty Images

• Further easy monetary policy of the European Central Bank

• Commerzbank Chef Volkswirt Makes Politics in Italy with Responsible

• Draghi Build Printing on the ECB on

Two years is that Mario is Draghi has left his item as President of the European Central Bank ECB. In the meantime, he has a new job: as Italian Prime Minister he continues to work in an influential position. And in this position, he also continues to influence inflation in the euro area, even though he no longer work for the ECB, so the allegation of an Commerzbank expert.

Highest inflation has been confirmed for decades

 Highest inflation has been confirmed for decades The Federal Statistical Office has officially confirmed the inflation rate of 3.9 percent, which previously published as an estimate. High values ​​are expected by the end of the year. But this will not change the course of the ECB. © Julian Stratenschulte / DPA / Picture Alliance Provided by Deutsche Wave The Federal Statistical Office confirmed his preliminary calculations on Friday from the end of August , after which the price increase with 3.9 percent has reached the highest value for 28 y

Draghi Is Still Influencing Euro Inflation , Commerzbank Says. Nearly two years after Mario Draghi left Frankfurt, the former European Central Bank president is still influencing inflation in the euro region through his role as Italian prime minister, according to Commerzbank AG Chief Economist Joerg Kraemer. “If he were to push through the urgently needed reforms and get his home country back on its feet economically, the ECB would no longer feel pressured to prop up Italy,” the Frankfurt-based economist wrote on Monday in a report that was based on an article for the FAZ newspaper.

Topline: Outgoing European Central Bank ( ECB ) president Mario Draghi has announced it will restart its quantitative easing measures and has cut its bank deposit rate to an all-time low of -0.5% in a bid to stimulate the flagging eurozone economy. The ECB will resume buying up eurozone government Eurozone inflation is running at just 1% and with just 1.1% year-over-year growth in the second quarter while the 19 country monetary bloc faces significant headwinds from the U.S-China trade war, Brexit uncertainty and signs that the German’s economy, Europe’s largest, is heading for recession.

Commerzbank Chief Volkswirt With allegations against Draghi

, Jörg Krämer operates as Chief Volkswirt in the German Finance House, on the economic policy of the Southern European country and takes Mario Draghi directly into responsibility: "He would enforce the urgently needed reforms and Pointing its home country economically back to the legs, the ECB would no longer be under pressure to support Italy, "cited" Bloomberg "from a report to publish the Frankfurt Economic on the basis of a FAZ article.

The success of the economic renovation of the country is questionable, Krämer continues. Against this background, the country will continue to depend on the credit costs remain low. That will force the ECB to keep the monetary policy loosely. In his view, the currency headers are risking in this way that inflation finally settle.

Surge in housing, consumer prices brings new urgency to election campaign focused on affordability

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THE European Central Bank has been dealt a heavy blow after inflation in June tumbled further below target, despite extreme measures from policymakers to stoke the economic measure. In a major setback, the ECB recently revised inflation forecasts for the eurozone down. Low inflation can indicate weak consumer demand and an ailing economy. Unless price rises are stronger, ECB chief Mario Draghi has signalled that he is unlikely to scale back the mammoth levels of support for the economy.

European Central Bank president Mario Draghi warns that eurozone inflation could turn The ECB has been taking action to try to stimulate growth in the eurozone 's economy and prevent deflation. Inflation in the eurozone stood at zero last month - well below the ECB 's target of close to 2%.

inflation attracts to

last the European Central Bank had again confirmed its monetary policy. Although the currency counters, thanks to the good economic development , slightly take the billions-heavy bond purchases from gas and want to acquire moderately less state and corporate papers in the Corona emergency purchase program in the last annual quarter. But on the low interest rates , the currency hoists continue to hold further - the term of Pandemic Emergency Purchase Program (PepP) with a volume of 1.85 trillion euros also remained unchanged.

At the same time, the European Central Bank's Economic staff (ECB) released its forecasts for inflation development and raised the estimates in the medium term: accordingly, the ECB expects a 2.2 percent increase in consumer prices for 2021 - so far one had risen from 1.9 percent . For 2022, the experts now expect an increase of 1.7 instead of 1.5 percent, the expectations for the inflation increase for 2023 were also raised from 1.4 to 1.5 percent.

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Eurozone inflation rates are likely recover in 2016, European Central Bank ( ECB ) president Mario Draghi has said. Mr Draghi was speaking after the ECB kept its main interest rate unchanged in a widely expected decision. Boosting employment. Describing the UK, Europe and the eurozone as "mutually beneficial," Mr Draghi said the ECB was prepared for any outcome when the UK holds the 23 June referendum. "The ECB has a view whereby the UK should remain in the European Union because the European Union will benefit from its permanence and we believe the UK too will benefit

Inflation in the eurozone dropped last month, driving the point home. Headline inflation dipped to 1.2% in May from 1.7% the previous month. It may be time for the new president to consider how the bank targets inflation and whether it's time for a different approach, Annenkov said. Adam Posen, president of the Peterson Institute for International Economics, joked at an ECB event last month that he wouldn't be invited to future gatherings because he thinks the 2% inflation target has "outlived its usefulness." Channeling Draghi . Conversations around the leadership race have largely centered on

Experts Unsin about monetary policy

for Commerzbank's Chief Volkswirt is clear that Mario Draghi as an Italian Prime Minister has its share of this expected inflation development. "Italy remains on the help of the ECB, which ensures low public financing costs with bond purchases and negative key interest rates," continues to Krämer. Draghi's "actions still influence inflation," summarizes the expert together.

While Krämer is more pronounced a prefather of a tighter monetary policy, ECB Director Isabel Schnabel was last convinced that the increase in inflation only temporarily and a premature reaction of the ECB is therefore counterproductive. On the occasion of an entrepreneurial conversation in Baden-Baden, she explained: "An early streamlining of monetary policy in response to a temporary increase in inflation would be poison for the current upswing and would especially damage those even more than the current increase in inflation.

in her view The price range in the coming year will weaken again, it holds an excessively high inflation in the euro area "due to the continued low inflation expectations for very unlikely".

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Cost of living, affordable housing key topics raised in federal leaders debate, Albertans say .
Liberal Leader Justin Trudeau and Conservative Leader Erin O'Toole discuss COVID-19 vaccination policies in post-debate scrums with reporters. NDP Leader Jagmeet Singh says his party wants to boost taxes on the wealthy and Green Party Leader Annamie Paul says she'd like to see smaller parties find a way to get more attention during election campaigns.

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This is interesting!