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What can we learn from the recent disinflation episode?

· Joachim Nagel, President of the Deutsche Bundesbank (Germany)

Summary written by Dark Majestic in its own words · topics: inflation and price stability, growth, investment and productivity

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· Joachim Nagel Wiki · Deutsche Bundesbank WikiWhat can we learn from the recent disinflation episode?

ContextDinner speech by Joachim Nagel, President of the Deutsche Bundesbank, at the Central Bank Research Association (CEBRA) Annual Conference, Frankfurt am Main, 29 August 2024.

Why it mattersThe Bundesbank president draws lessons from the recent disinflation and its cost to growth.

Problems raised
  1. Core and services inflation remain elevated.
  2. Disinflation costs growth.
  3. Lessons must be drawn.
Solutions proposed
  1. Cut rates once the outlook improved.
  2. Measure the cost of disinflation.
  3. Stay cautious on services inflation.
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