UK’s Osborne comments crossing the wires. The comments are from a speech he is to deliver on Wednesday.
- ECB should do whatever it takes to meet inflation target
Osborne distinguishes between UK inflation and Europe inflation:
- “The low inflation we see here in the UK — driven as it is almost entirely by external factors such as the oil price — is much more welcome than in the euro zone”
- “There the debate has understandably turned to the dangers of deflation — the risk of a self-reinforcing spiral where economic activity falters, consumers defer purchases … and nominal debt burdens become ever harder to manage”
And more:
- “Political systems should give their central banks the space and the independence to do their job”
- “So I fully support Mario Draghi’s efforts to ensure that the ECB does whatever it takes to meet its inflation mandate”
via Reuters
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George Osborne is British Chancellor of the Exchequer
Dons protective gear ahead of Europe QE
