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Canada LAGARDE: No dangerous pay price spiral in the euro area

17:41  21 january  2022
17:41  21 january  2022 Source:   finanzen.net

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Europe's currency headers continue to expect falling expansion rates in the current year. However, the outlook "with great uncertainty is subject to".

Christine Lagarde, Präsidentin der Europäischen Zentralbank (EZB). © Boris Roessler / DPA Christine Lagarde, President of the European Central Bank (ECB).

That said the President of the European Central Bank (ECB), Christine Lagarde, on Friday at an online organization of the World Economic Forum Davos.

In recent months, inflation rates have powerfully attracted. In Germany, consumer prices in December were 5.3 percent above the level of the same month. The inflation rate in Europe's largest economy climbed to the highest level since June 1992. In the euro area, inflation in December was 5.0 percent and thus as high as never since the euro introduction. Above all, the strong increase in energy prices as well as supply bottlenecks heated up the inflation.

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Inflation Development

Higher inflation weakens the purchasing power of consumers because they can buy less for a euro than before. Critics threw the ECB, with their ultra-skier monetary policy, including billions of wire bond purchases, the inflation still to be imposed. The central bank strives for a stable price level in the common currency area at an annual inflation rate of 2 percent and is at least temporarily ready to accept that this brand is overridden to moderate.

A dangerous wage price spiral that could permanently drive inflation upwards, the ECB does not see how Lagade reaffirmed. At least at the moment there are no signs that inflation development could result out of control. "On the contrary, we assume that energy prices will stabilize in the course of the year 2022 (...) and then the inflation rates will gradually go back," said Lagarde.

An early interest rate increase in the euro area had repeatedly given the ECB President. "We will have new projections in a few months. These could look different, and at this time we will have to see our timetable, "said Lagarde now with a view to the new forecasts of the central bank for the development of inflation and economy in the euro area expected for March. LAGARDE emphasized with a view to the central bank's inflation target: "We will act as soon as the criteria are fulfilled, but at the moment you are not fulfilled."

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Tom Axworthy remembers the occasion when Pierre Trudeau encouraged Ronald Reagan to broaden his approach to the Soviet Union during a visit to the White House in December, 1983. Inconceivable as it seemed then (and does now) the Kremlin was convinced that NATO was preparing a first strike, in part because the Americans had unveiled the Star Wars defence initiative and the U.S. president was referring to the Soviet Union as the “evil empire.” As Inconceivable as it seemed then (and does now) the Kremlin was convinced that NATO was preparing a first strike, in part because the Americans had unveiled the Star Wars defence initiative and the U.S. president was referring to the Soviet Union as the “evil empire.

usr: 0
This is interesting!