Should the ECB Reformulate its Inflation Objective?
Monday, November 2, 2020
Summary
The European Central Bank (ECB) is in the process of reviewing its monetary policy strategy. A majority of CfM-CEPR panel members support allowing inflation to exceed 2% following periods when inflation has been below target and making more explicit its secondary objective of supporting economic growth and full employment. Only a minority supports increasing the inflation target itself.
Background