Monday, July 07, 2008

The ECB Has Focus

The European Central Bank (the ECB) has one focus in its mandate, inflation. It takes that single mandate seriously. While the U.S. Federal Reserve drove the federal funds rate to 2% two hundred and twenty basis points below the U.S. inflation rate, the ECB has raised rates. The ECB's policy rate is now at 4.25%. Here the Wall Street Journal's Joellen Perry questions Jean-Claude Tichet, the ECB President.

Read her article here.

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