2023 summer reading list
Our carefully curated list of books, explored by the Positive Money Europe team, for the summer of 2023
The unfortunate timing of the ECB’s hike
On Thursday, the European Central Bank (ECB) will add 25 basis points to the largest rate hike in the European Monetary Union’s lifetime.
The ECB raises interest rates in unprecedented tightening cycle
The European Central Bank (ECB) raised its interest rates today by 0.25 percentage points, taking further steps to tighten monetary policy in an already unprecedented cycle. It is puzzling.
Beware of the lags. Will the ECB continue tightening in the midst of a credit crunch?
The European Central Bank (ECB) is expected to further raise its rate of interest. Rate hikes take a long period of time to have an impact on the rest of the economy. The Bank Lending Survey shows that credit conditions and loan demand are tightening at rates not seen since previous major crises. A credit crunch in the making should be signaling to ECB officials that it is time to wait and see, as further increasing the interest rate without knowledge of the consequences of previous increases can prove to be a major policy mistake.
Why are food and energy prices going up and down so quickly?
Fossilflation and climateflation explained
Walking the Tightrope: The Trade-Offs Between Financial and Price Stability
Christine Lagarde has recently argued that the price stability and financial stability objectives of the European Central Bank (ECB) are not at odds with one another. While in tranquil times this assertion may be true, it does not apply in the current context. Higher rates create turmoil in the financial markets, jeopardising the financial stability objective.