Even recession may not bring down Europe’s inflation
Will the ECB take lessons from another central bank in Frankfurt?
It is difficult to spot the peak when hiking in the fog. What is true in the Alps is just as true for policymakers who are struggling with inflation. In the euro zone, consumer prices in October were 10.7% higher than a year earlier. The European Central Bank (ecb) has increased interest rates by 0.75% for the second meeting in a row, as it dutifully follows the path trodden by America’s Federal Reserve. Officials very much hope the peak is around the corner.
This article appeared in the Finance & economics section of the print edition under the headline “Double trouble”
Finance & economics November 5th 2022
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