• Home
  • Analitica
  • Notizie dai mercati
  • ECB's chief economist Lane: Energy price shock can simultaneously raise headline inflation but exert downward pressure on the path of underlying inflation
Notizie economiche
11.10.2021

ECB's chief economist Lane: Energy price shock can simultaneously raise headline inflation but exert downward pressure on the path of underlying inflation

  • Tracking wage outcomes and differentiating between transitory and persistent changes will play important role
  • One-off shift in wages as part of adjustment to transitory increase in price level does not shift the path of underlying inflation
  • If economy is close to effective lower bound, it is vitally important to adopt forceful or persistent monetary policy action to avoid negative deviations from inflation target becoming entrenched
  • Compression of term premia through duration extraction channel plays quantitatively significant role in determining longer-term yields
  • Calibrating the volume of asset purchases plays important role in ensuring that monetary stance is sufficiently accommodative to deliver timely attainment of the medium-term 2% target

Guarda anche