Mar

20

Following up on the inflation expectations threads, today we have ECB Governing Council member Klaus Liebscher on the wire:

“The credibility of the Eurosystem’s monetary policy and the euro area’s sustainable fiscal policy framework will improve our resilience to shocks…”

“By solidly anchoring medium- to longer-term inflation expectations in the euro area at levels consistent with price stability, monetary policy can make an ongoing contribution towards fostering sustainable economic growth and job creation in the euro area…”

As Bernanke adopted the ECB’s wording of “vigilance”, so it seems the burghers of Frankfurt have taken up the “anchoring expectations” banner.

Victor Niederhoffer adds:

As a courtesy, presumably all Central Banks are converged, always maintaining the Chinese Wall with all their people.


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