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Monetary policy in a high inflation environment: commitment and clarity

· Christine Lagarde, President of the European Central Bank (Euro area (EU))

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, public finances and debt, growth, investment and productivity

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· Christine Lagarde Wiki · European Central Bank WikiMonetary policy in a high inflation environment: commitment and clarity

ContextLecture by Christine Lagarde organised by Eesti Pank in honour of Professor Ragnar Nurkse.

Why it mattersLagarde shows commitment to returning double-digit inflation to target.

Problems raised
  1. Euro area inflation reached double digits.
  2. Multiple shocks keep inflation high.
  3. Fiscal consolidation could hit investment.
Solutions proposed
  1. Show commitment to return inflation to target.
  2. Communicate clearly.
  3. Consolidate fiscal policy without cutting investment.
Read full speech on ecb.europa.eu ↗

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