ECB's Weidmann: This time the economic fallout is likely to be less severe than in the spring

Author: Adam Button | Category: News

Comments from Weidmann:

  • This time the economic fallout is likely to be less severe than in the spring
  • It's negligent to rule out inflationary forces in the future
  • Explicitly symmetric inflation target would be clearer and easier to understand
  • We need to make it very clear we are not going to place monetary policy at the service of fiscal policy
  • Inflation should really include owner-occupied housing costs
  • It is important that mon pol remains expansionary
Directly, I agree with the headline but I think we need to recognize the uncertainty. I'm not confident in predicting how the economy is going to react to another lockdown and a long, covid winter.

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