One of our retired clients sent us a question recently.
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“I can’t understand the FED condoning and promoting any inflation rate. To me inflation means that the value of money is simply depreciating at the inflation rate.
The ECB’s headquarters in Frankfurt, Germany.
In this essay I shall discuss the nature, purpose and impact of monetary policy using the example of the European Central Bank (ECB), whose central objective as the core of the European System of Central Banks (ESCB), and the Eurosystem, is laid down in Article 127 (1) of the Treaty on the Functioning of the European Union (TFEU): «The primary objective […] shall be to maintain price stability» (O.J. 2,549 more words