The ECB's new definition of price stability: better but short of specifics

Charles Wyplosz

Politica economica, 2021, issue 3, 357-372

Abstract: The new definition of price stability is a step in the right direction, even though the ECB could have gone further toward the Fed’s average inflation targeting. This definition can become most helpful as the central bank navigates new uncertainties. Yet, the review does not deal with some daunting challenges that are already visible. It will need more than a few principles about price stability to deal with such issues as high and rising public debts, financial stability, or climate change

Keywords: European Central Bank; monetary policy strategy; inflation targeting (search for similar items in EconPapers)
Date: 2021
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