Analysis: Decisions taken by the ECB require more accountability
As European monetary policy becomes increasingly connected to national fiscal policy, the European Central Bank must become more aware of how its actions affect people’s daily lives
Last week, Christine Lagarde, the president of the European Central Bank (ECB), gave an important speech about the strategic direction of Europe’s monetary policy. She argued that the ECB needs to listen to more diverse voices – a recognition that monetary policy has fundamentally changed in Europe.
If the ECB wants its monetary policies to have real effect in the real economy, then it needs to start channelling the benefits towards working households.
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