18 min listen
Learning from the European Central Bank's policy mistakes
Learning from the European Central Bank's policy mistakes
ratings:
Length:
41 minutes
Released:
Sep 28, 2022
Format:
Podcast episode
Description
In July 2022, by the time the European Central Bank (ECB) lifted its deposit rate from negative to zero, headline inflation in the euro area had reached 8.9%. Irrespective of the drivers of inflation – a temporary supply shock or lasting demand shock – it is shocking that a central bank with a price stability mandate keeps its main interest rate negative while inflation accelerates that much.
Something clearly went wrong. With the benefit of hindsight, it is easy to say that the ECB made mistakes. But should the ECB have acted differently, given the information available at the time of its monetary policy meetings?
In this episode of the Sound of Economics, Bruegel Director Jeromin Zettelmeyer and Senior fellow Zsolt Darvas sit down to discuss the ECB’s six lapses in tackling inflation, uncertainties surrounding the euro area's economy and what could have been done differently.
Something clearly went wrong. With the benefit of hindsight, it is easy to say that the ECB made mistakes. But should the ECB have acted differently, given the information available at the time of its monetary policy meetings?
In this episode of the Sound of Economics, Bruegel Director Jeromin Zettelmeyer and Senior fellow Zsolt Darvas sit down to discuss the ECB’s six lapses in tackling inflation, uncertainties surrounding the euro area's economy and what could have been done differently.
Released:
Sep 28, 2022
Format:
Podcast episode
Titles in the series (100)
Brexit: what happens now?: The sound of economics is a series of podcasts about economic policy, brought to you by Bruegel. Each episode will look at a key economic policy debate, discuss why it is important and explore some of the work that Bruegel's researchers have done in th... by The Sound of Economics