haku: @indexterm central europe / yhteensä: 213
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| Tekijä: | Tober, S. |
| Otsikko: | Crucial role of monetary policy in economic upturn |
| Lehti: | Economic Bulletin
2000 : DEC, VOL. 37:12, p. 381-386 |
| Asiasana: | CENTRAL EUROPE MONETARY POLICY BANKING |
| Kieli: | eng |
| Tiivistelmä: | The last 12 months have seen substantial rises in short- term interest rates in the euro area. Monetary policy thus adopted a restrictive stance. However, the external value of the euro fell sharply during the same period. Overall the monetary conditions in the euro area are currently neutral; in other words they are not a barrier to growth equal to the expansion of potential output. Due to moderate wage growth, further interest-rate increases are not necessary, despite the sharp rise in the price of oil. |
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