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After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...
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In 2022, the European Central Bank (ECB) introduced the Transmission ProtectionInstrument (TPI) to counter the risk of … financial fragmentation following the normalisation ofmonetary policy. The ECB has specified conditions under which the TPI can … objective and transparent manner. This provides the ECB room for policydiscretion and makes the ECB susceptible to pressure from …
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Geldpolitik" geschaffene zusätzliche Liquidität müsste bei anhaltend höherem Inflationsdruck zurückgeführt werden. Als eine …In response to the coronavirus crisis, the central banks of the Eurosystem have further increased their APP bond …. The straightforward solution for the ECB would be to sell the once purchased bonds, as they are the source of the extra …
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Nullzinsschranke nicht mehr möglich war, setzte die Geldpolitik dabei auch verstärkt auf unkonventionelle Maßnahmen, insbesondere auf … zeigt, dass die mittel- und langfristigen Gefahren dieser Form der Geldpolitik global höchst unterschiedlich bewertet werden. …
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