· Ignazio Visco Wiki · Banca d'Italia WikiMonetary policy and the return of inflation
Read full speech on bis.org ↗ContextText of the Bishnodat Persaud Lecture by Ignazio Visco, Governor of the Bank of Italy, at the Warwick Economics Summit 2023, University of Warwick, Coventry, 11 February 2023.
Why it mattersVisco reviews the return of inflation after decades of stability.
Problems raised
- Inflation is back after decades.
- Inflation hurts households and firms.
- Emerging economies suffer high inflation.
Solutions proposed
- Tighten monetary policy.
- Learn from history.
- Anchor inflation expectations.