Category Archives: Monetary Policy

German court’s “No, but” may undermine ECB’s OMT

The constitutional court strongly implied that the central bank’s bond-buying programme is outside its …

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Filed under Allgemein, Economic Policy, Monetary Policy

Inflation fear shouldn’t constrain monetary policy

Central banks have more room to manoeuvre than inflation hawks think. Even temporarily excessive …

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Filed under Monetary Policy

Gold move shows Buba can cave in to pressure

Germany’s central bank will repatriate some of its gold reserves. That could mean that …

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Filed under Allgemein, Monetary Policy

Why the Euro crisis is the key to a stronger Europe

This essay originally appeared in the first issue of “TLQ - The Digital Magazine For Thought …

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Filed under Banking, Economic Policy, Financial Crisis, Monetary Policy

Why there's more in Draghi's may-day speech than markets realise

Mario Draghi (Photo by Monika Flueckiger/ World Economic Forum, via Wikipedia)
At first sight, Mario …

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Filed under Economic Policy, Monetary Policy

Killed by friendly fire? The Euro zone, banks and Draghi's “Big Bertha”

The Big Bertha, 1914 edition
The Big Bertha was one of the largest cannons of …

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Filed under Financial Crisis, Monetary Policy

The Bundesbank and Target2 – the about-face that wasn't

It appeared like a stunning about-face. Earlier this month, press reports suggested that Bundesbank …

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Filed under Monetary Policy, Target 2

Bundesbank's Weidmann on the origin and meaning of the Target2 balances

A couple of days ago, Jens Weidmann, the President of Deutsche Bundesbank, published an …

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Filed under Monetary Policy, Target 2

The Italian Job – How Passports Influence Monetary Policy Decisions

Logo of the ECB (Image via Wikipedia)

The nationality of the ECB’s managerial staff matters …

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Filed under Financial Crisis, Monetary Policy

Target2 debate – The ECB finally gets involved

Several months ago, German economist Hans-Werner Sinn stirred a debate about an alleged “stealth …

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Filed under Financial Crisis, Monetary Policy, Target 2