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The quest for policy scope: Implications for monetary policy strategies

Author(s): Klaas Knot

Date published: Jan 2020

SUERF Policy Note, Issue No 121
by Klaas Knot, De Nederlandsche Bank

 

JEL-codes: E31, E42, E52, E58.
Keywords: Monetary policy, European Central Bank, monetary policy strategy, inflation targeting, central bank mandate.

At the 4th SUERF • CGEG|COLUMBIA|SIPA • EIB • SOCIETE GENERALE High-Level Conference on EU-US perspectives held in New York on 16 October 2019, Klaas Knot participated in a session on “The Quest for policy scope”. He highlighted how longer-term changes in the global economy pose important challenges for central banks’ ability to control inflation. Some of these challenges affect all central banks, while others are specific to the institutional context in which the ECB operates. These challenges have become more relevant over time, and should be important elements of future reflections on monetary policy strategy.

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SUERF Policy Note, Issue No 121SUERF Policy Note, Issue No 121

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