haku: @author Tober, S. / yhteensä: 3
viite: 2 / 3
| Tekijä: | Tober, S. |
| Otsikko: | European Monetary Policy: Interest-Rate Cut no Threat to Stability |
| Lehti: | Economic Bulletin
2001 : MAR, VOL. 38:3, p. 85-90 |
| Asiasana: | ECONOMIC CONDITIONS EUROPE MONETARY POLICY EUROPEAN UNION |
| Kieli: | eng |
| Tiivistelmä: | The subjects of this paper are monetary policy and foreign exchange rates in European Union countries. The author of this paper suggests that the European Central Bank give up its restrictive stance and adopt a stability-oriented monetary policy. The paper considers the interest rates and interest-rate spreads in the euro zone. The author pays an attention to the United States- dollar and Euro exchange rate from January 1998 to February 2001, and considers index of consumer prices in the euro zone from May 1998 to January 2001. The author states that if, in addition, the global economy and especially economic activity in the euro zone should weaken to a greater extent than seems likely at present, the ECB should not hesitate to cut its base rates further. |
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