STRONGER THAN THE EURO

STRONGER THAN THE EURO

While rising exchange rates have helped the central European countries to curb inflation, even allowing for easier monetary policy, they are poison for exports, especially for exports to the euro area, the countries' main market. Central bankers are also wary of cutting interest rates at a time...

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Bibliographische Detailangaben
Veröffentlicht in:CESifo forum 2005-04, Vol.6 (1), p.50
1. Verfasser: Sherman, Heidemarie C
Format: Artikel
Sprache:eng
Schlagworte:
Central banks
Eurozone
Exports
Foreign exchange rates
Inflation
Interest rates
Monetary policy
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Beschreibung
Zusammenfassung:While rising exchange rates have helped the central European countries to curb inflation, even allowing for easier monetary policy, they are poison for exports, especially for exports to the euro area, the countries' main market. Central bankers are also wary of cutting interest rates at a time when economic growth is buoyant and when governments are failing to reduce their fiscal deficits, which are at least a point or two above the 3% Maastricht limit.
ISSN:1615-245X
2190-717X