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Importierte Inflation und Zinswende: Herausforderungen für die EZB

Inflation in Germany and the euro area as a whole has risen sharply in recent months. This development is mainly driven by rising energy prices. The ECB has announced that it will phase out the APP bond-buying programme in the third quarter and plans to raise the key interest rate this summer. Are t...

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Detalles Bibliográficos
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9226278/
http://dx.doi.org/10.1007/s10273-022-3206-4
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description Inflation in Germany and the euro area as a whole has risen sharply in recent months. This development is mainly driven by rising energy prices. The ECB has announced that it will phase out the APP bond-buying programme in the third quarter and plans to raise the key interest rate this summer. Are the planned measures sufficient to lower inflation? It seems important to limit inflation expectations in order to prevent wage-price spirals. It also begs the question about how effective monetary policy is if primarily (imported) energy price inflation has to be fought. In addition, there must be a discussion about the contractionary effects of interest rate hikes on the economy as a whole, which is already fragile due to the coronavirus crisis and the Ukraine war.
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spelling pubmed-92262782022-06-24 Importierte Inflation und Zinswende: Herausforderungen für die EZB Wirtschaftsdienst Zeitgespräch Inflation in Germany and the euro area as a whole has risen sharply in recent months. This development is mainly driven by rising energy prices. The ECB has announced that it will phase out the APP bond-buying programme in the third quarter and plans to raise the key interest rate this summer. Are the planned measures sufficient to lower inflation? It seems important to limit inflation expectations in order to prevent wage-price spirals. It also begs the question about how effective monetary policy is if primarily (imported) energy price inflation has to be fought. In addition, there must be a discussion about the contractionary effects of interest rate hikes on the economy as a whole, which is already fragile due to the coronavirus crisis and the Ukraine war. Springer Berlin Heidelberg 2022-06-24 2022 /pmc/articles/PMC9226278/ http://dx.doi.org/10.1007/s10273-022-3206-4 Text en © Der/die Autor:in 2022 https://creativecommons.org/licenses/by/4.0/Open Access: Dieser Artikel wird unter der Creative Commons Namensnennung 4.0 International Lizenz veröffentlicht (https://creativecommons.org/licenses/by/4.0/deed.de (https://creativecommons.org/licenses/by/4.0/) ). Open Access wird durch die ZBW — Leibniz-Informationszentrum Wirtschaft gefördert.
spellingShingle Zeitgespräch
Importierte Inflation und Zinswende: Herausforderungen für die EZB
title Importierte Inflation und Zinswende: Herausforderungen für die EZB
title_full Importierte Inflation und Zinswende: Herausforderungen für die EZB
title_fullStr Importierte Inflation und Zinswende: Herausforderungen für die EZB
title_full_unstemmed Importierte Inflation und Zinswende: Herausforderungen für die EZB
title_short Importierte Inflation und Zinswende: Herausforderungen für die EZB
title_sort importierte inflation und zinswende: herausforderungen für die ezb
topic Zeitgespräch
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9226278/
http://dx.doi.org/10.1007/s10273-022-3206-4
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