Axel A Weber: European inflation dynamics and inflation convergence (Central Bank Articles and Speeches)
نویسنده
چکیده
Maintaining price stability in the euro area is the primary objective of the single monetary policy of the European Central Bank. In following this goal, monetary policy cannot prevent, however, inflation rates from differing between member countries of EMU. For example, over the last twelve months, the year-on-year rates of the HICP for Germany, Austria and the Netherlands averaged around 11⁄2 percent, while Spain and Greece showed rates of around 3 percent.
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