Central banks around the world raised interest rates at a record pace over the past couple of years, hoping to do the impossible: extinguish inflationary price pressures without crushing fledging economic growth post the coronavirus pandemic. With the tide now turning, central banks will need to reverse course, a tricky exercise in a world where ultra-low interest rates and anemic inflation, hallmarks of the past decade, appear gone for good.
Philip Lane, the long-time architect of ECB monetary policy, discusses the ECB’s response to a new era of central banking in a conversation with Reuters Chief ECB Correspondent Balazs Koranyi.
#PhilipLane #ECB #EuropeanCentralBank #BalazsKoranyi #ReutersNEXTNewsmaker #ReutersNewsmaker #Reuters #live #news