Christine Lagarde, President of the European Central Bank with former Governor of the Central Bank of Ireland, Philip Lane, now chief economist at the ECB, at the Euro at 20 Conferences Convention Centre Dublin last year
Professor Philip Lane has again defended his long-held view that the current, record-high inflation rate in the euro zone was temporary in the face of mounting pressure on the ECB to raise interest rates, both from investors and policymakers. https://t.co/1h31dzTxK7
— RTÉ Business (@RTEbusiness) February 10, 2022
This afternoon.
Via RTÉ Business:
“Since bottlenecks will eventually be resolved, price pressures should abate and inflation return to its trend without a need for a significant adjustment in monetary policy,” Lane said in a blog post.
He was echoed at a separate event by French governor Francois Villeroy de Galhau.
They were likely trying to dampen market expectations, which are for an early end of the ECB’s bond purchases and rate hikes worth 50 basis points by December.
These were stoked by ECB President Christine Lagarde last week, when she refused to rule out a rate increase this year. Sources told Reuters some policymakers already wanted policy changes at last week’s meeting.
But Philip Lane defended the ECB’s “hold-steady” approach.
“The logic underpinning a hold-steady approach to monetary policy is reinforced if the bottlenecks are primarily external in nature, caused by global disruptions in supply or a surge in global demand,” he said.
Euro zone inflation doesn’t require significant policy tightening – Lane (RTE)
Maybe the Irish banks won’t raise them in the same way they didn’t reduce them when they were low?
I doubt it
It’s time government forced banks and other institutions lower interest rates by 4%
No excuse at all as to how they are so high
Government has proved it can act even to the point of denying us our constitutional rights for the greater good
So now they can do this for the greater good for the people during this national crises
Fact is government do not want to do this as governments vested interest is greed
Inflate away the debts, thats the plan.
Covid monies borrowed will be just a bad memory – except for all the purchasing power erosion for you and me, that’ll be around for a long time.
Sure i know well they won’t … despicable cohorts.
When they were up they were up and when they were down they were still up.
Pure scum bags
Bankers are parasitical living off the back of success
Like cockroaches they are the only thing that survives disaster
this is prime brown stuff that emanates from the rear end of a large bull
Christine Lagarde is a shark…I literally take whatever she says and reverse it
I can assure you that her/their only interest is vested
my own thinking is there’s a tsunami incoming that’ll make 2008 look tame and they’re doing their best now to quell any panic amongst the serfs
get ready
panic away buddy; the more scared you are, the more you’ll consume.
MWAHAHAHAHAAAAAAA!!!
The Fed said their inflation was transitory up untill two months back. They believe its here to stay now.
Interest rates up means stock market down esp in growth stocks and the ECB don’t want to crash the markets unless its 100% necessary.
I feel for a first timer house buyer who probably will have to deal with a doubling of their rates in 5-7 years while having bought at the top of the market. Increases really need to be factored in now.
Either she’s always on holiday or always under a sunbed but I’ve never seen Christine Lagarde look like anything other than an ancient leather armchair in a Mayfair gentleman’s club.
Ah that’s great stuff TenPull Terry/Charger Salmons/Admiral Nelson etc etc
Wonderful words
Marvelous
Lagarde is a lizard for sure and I think when David Icke refers to them as lizards, it is like this, Prince Charles, Nat Rothchild, Soros and the clan of interbred royalty. I think it is just easier to sell it as a metaphor, but each to their own, and I do respect the guy.
Lagarde is a lizard for sure and I think when David Icke refers to them as lizards, this is the kind of sad part human he refers to, like Prince Charles, Nat Rothchild, Soros and the clan of interbred royalty. I think it is just easier to sell it as a metaphor, but each to their own, and I do respect the guy, he speaks a lot of sense.
The fundamental reason for the high inflation is the amount of money that was created by the printing presses of the world. The sovereign debt is the bubble we should be EXTREMELY worried about.