Today with more than a dozen NGOs specialising in climate and environmental issues, we sent a letter to King Philippe and Finance Minister Vincent Van Peteghem. We are requesting the appointment of a Governor of the National Bank of Belgium who is equipped to meet the challenges of climate change.
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.
In Europe, the week of 22-28 May is dedicated to raising awareness about the importance of mental health. In this blog, we want to highlight how some of the main problems in today’s financial and money system also represent a threat to our mental health. This shows a need to rethink and rebuild the economy so that it works for people’s well-being and not against it.
ECB watchers join Positive Money Europe’s push for a green lending program.
The new inflation target of the ECB offers minimalistic improvements and lacks credibility. Although the ECB wants to get rid of its deflationary bias, it shies away from considering more forceful and radical instruments that could achieve that, giving itself instead more convenient justifications for missing the target in the future. The ECB will have to consider more paradigmatic changes to its monetary policy when it next reviews its strategy in 2025.
The U.S. Federal Reserve has adopted a new inflation target objective. We expect a similar change from the European Central Bank (ECB) when it concludes its Strategic Review in mid-2021. But the ECB will need to do much more than revising its inflation target if it wants to ensure speedy recovery and growth.