Monetary Policy

June 26, 2025

Central Banks’ Dangerous Mission Creep

The more tasks the Federal Reserve takes on, the more difficult it will be to maintain its independence. Especially if, in addition to ‘exercising powers that belong to the Treasury Department’, the central bank deals with ‘social problems’ such as climate change or inclusion, to which there are various policy responses but no technical, neutral approach.
January 14, 2025

The ECB Cuts Rates Further: Inflation-suppressing Factor Fades into Oblivion

In its third consecutive meeting, the Governing Council of the European Central Bank (ECB) cut all three key interest rates by a quarter of a percentage point, as expected. They are now in the range of 3.00–3.40 per cent.
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