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ECB plans special meeting as inflation comes under the spotlight

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ECB plans special meeting as inflation comes under the spotlight

Thursday 1 July 2021 – Vol.12 Ed.26.4

Commentary: Special ECB conclave to debate inflation and asset purchases

By David Marsh in London

A special ECB meeting next week will discuss running unconventional monetary policies despite higher-than-2% inflation in key countries – exposing persistent fault lines between debtor and creditor members of the monetary union. The meeting, anticipated to start with a governing council dinner on Tuesday 6 July, can be expected to finalise the ECB’s long-mooted ‘symmetrical’ definition of price stability aimed at 2% inflation.

Read the full commentary on the website.

Commentary: Increase in inflation will not last

By Agnès Belaisch and Matteo Cominetta

This year’s recovery, after months of life under lockdown, stands out from previous ones; it started with inflation roaring back. Normally the symptom of overheating in an economy reaching full speed, inflation this time reflects a weakened economy taken by surprise. Disrupted production chains and labour markets keep supply from rising to satisfy demand. Evidence points towards disruptions being on the mend. Together with waning base effects, this should push inflation down by the turn of the year.

Read the full commentary on the website.

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