A chara, – Inflation is usually a problem of high growth. Currently the Euro group is technically in recession. So high inflation is not being caused by excessive growth. But the ECB, according to its chief economist Philip Lane, is increasing interest rates to reduce growth.
Looks like the ECB is prescribing the wrong medicine to cure the wrong illness.
Or is it just the ECB, post-Covid, telling us all who the boss is and making life miserable for millions of us in the process? – Yours, etc,
BRENDAN RYAN,
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