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Monetary policy and inflation - recent developments

· Ignazio Visco, Governor of the Banca d'Italia (Italy)

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

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· Ignazio Visco Wiki · Banca d'Italia WikiMonetary policy and inflation - recent developments

ContextKeynote address by Ignazio Visco, Governor of the Bank of Italy, at the conference on "The multiple role of the central banks: new frontiers of the monetary policy", organised by the Fondazione CESIFIN and the Florence School of Banking and Finance of the European University Institute, Florence, 30 September 2022.

Why it mattersVisco explains why the euro area's inflation differs from America's.

Problems raised
  1. Energy prices sparked inflation.
  2. Drivers differ between US and euro area.
  3. US fiscal response was very large.
Solutions proposed
  1. Tailor monetary policy to euro area conditions.
  2. Raise rates gradually.
  3. Monitor inflation drivers.
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