US News Monetary Policy: The ECB is looking for a new strategy

02:25  21 june  2021
02:25  21 june  2021 Source:   handelsblatt.com

End of Barkhane: Mali facing French military disengagement at Sahel

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The decisive central bankers have made themselves personally for the first time for over a year. An important goal is to communicate clear and understandable in the future.

several major topics has discussed the Council of the European Central Bank (ECB) at the weekend: the definition and measurement of price stability , the associated analytical concept, the orientation of monetary policy "in the middle view", the role of climate policy at the Formulation of monetary policy, and the modernization of communication.

This is apparent from a message from the ECB , which contains no results of these discussions. Most issues were already known in advance.

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ECB President Christine Lagarde can be quoted with : "It was good to meet again personally, and the Hills of the Taunus were ideal to contact digital communication after months." The Frenchwoman has already been in the fall of 2019 invited to a similar meeting in a noble hotel. At that time, the ECB Council was destroyed and it was about healing wounds. At present, less dispute is noticeable, but the question could, when and how the ECB should leave the crisis mode of the corona period, could again lead to harder discussions.

so far it is considered likely that the inflation target will be simply defined as "two percent" in the future, instead of using the previous formulation "close to, but under two percent." In inflation measurement, the involvement of the cost of living is the property, which is not measured yet, is likely to play a key role.

Energy Prizes Drawing upgrading to the highest level since 2011

 Energy Prizes Drawing upgrading to the highest level since 2011 The expansion in Germany has reached the highest level with 2.5 percent for almost ten years - and consumers must also focus on price jumps in the coming months. © Felix König / DPA A motorist is at a gas station a tap in the tank opening of its vehicle. For fuels and fuel oil, consumers had last significantly deeper into their pocket than a year earlier. economists expect inflation will continue in the current year, the Bundesbank temporarily holds inflation rates by four percent.

The "middle view" has always been the joker to classify deviations from the inflation target as tolerable. In this respect, it would be exciting, if there should be a clarification there. The US Federal Reserve now officially pursues the strategy to compensate for deviations from the objective, so that only one average is considered a crucial size.

How is the ECB in climate policy?

so far there are little signs that the ECB develops into a similar direction. In the case of climate policy , above all, the question is exciting whether the ECB holds on to retire this area under the primary mandate of price stability, or perhaps more in communication to the secondary mandate of supporting the European Union (EU) policies (EU). And finally, the ECB wants to communicate a bit easier and understandable.

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At their next meeting in September, the ECB will probably give you closer information about your strategy. Until then, expectations are likely to increase that it creates clarity about its departure from ultra-light monetary policy.

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Ministry: Travel Land Germany restores well .
The Federal Ministry of Economics wants to support tourism in Germany when restarting after the Corona crisis. The Parliamentary State Secretary at the Ministry of Economic Affairs, Thomas Meiß (CDU), presented an action plan to the national tourism strategy on Wednesday. © Markus Scholz / dpa beach chairs and umbrellas are available in Timmendorfer beach for bathing guests.

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