ECB: the horizon for forward guidance is shortening. Some of President Lagarde’s answers indicate that the Governing Council may an acceleration of the path to reduce net purchases could perhaps be decided in March, if the staff’s projections change significantly by then. Bank of England: after being the first G7 central bank to raise rates in the pandemic era […]

FOMC: new year, new monetary policy. Maximum employment is here, and elevated inflation is placing the price stability goal at risk.The FOMC is preparing to remove monetary stimulus, with the rates’ liftoff expected in March, a path of gradual hikes, a reduction of the Fed balance sheet starting by the summer and a possible acceleration of the tapering […]

FOMC: new year, new monetary policy. Maximum employment is here, and elevated inflation is placing the price stability goal at risk.The FOMC is preparing to remove monetary stimulus, with the rates’ liftoff expected in March, a path of gradual hikes, a reduction of the Fed balance sheet starting by the summer and a possible acceleration of the tapering […]

The debate on how to improve the european union’s fiscal rules will come into full swing this year. Literature on the topic is leaning towards setting ceilings on primary spending growth, calculatedin such a way as to allow a gradual reduction of the debt/GDP ratio, under a scenario of GDP growth in line with the trend […]