Journal Article
Monetary policy when one size does not fit all
Abstract: The European Central Bank recently raised its target interest rate for the first time since the 2008 financial crisis. When compared with a simple interest rate rule, this rate hike appears consistent with the euro area's nascent economic recovery and rising inflation. However, economic conditions vary greatly among the countries in the euro area and the ECB's new target rate may not be suitable for all of them.
Keywords: Monetary policy - Europe; European Central Bank;
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Bibliographic Information
Provider: Federal Reserve Bank of San Francisco
Part of Series: FRBSF Economic Letter
Publication Date: 2011
Order Number: 18