2022
DOI: 10.32796/ice.2022.929.7531
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Challenges for global monetary policy in an environment of high inflation: the case of the euro area

Abstract: The euro area has been particularly vulnerable to the shocks resulting from the pandemic and the war – contributing strongly to record-high inflation. This required a fast and decisive monetary policy reaction. The future monetary policy course will depend also on how these shocks, along with the fiscal and structural policies response, will affect the economic and inflation outlook.

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Cited by 2 publications
(2 citation statements)
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“…After the invasion, oil, coal and gas prices increased by around 40%, 130% and 180%, respectively [42] . This results in Food prices rising by 14.1% in January 2023 compared with one year previously [43] . The inflation, which is 2.89 in 2021, stands at 6.9 in 2023 [44] .…”
Section: Economic Impacts Of the Russo-ukraine Warmentioning
confidence: 99%
“…After the invasion, oil, coal and gas prices increased by around 40%, 130% and 180%, respectively [42] . This results in Food prices rising by 14.1% in January 2023 compared with one year previously [43] . The inflation, which is 2.89 in 2021, stands at 6.9 in 2023 [44] .…”
Section: Economic Impacts Of the Russo-ukraine Warmentioning
confidence: 99%
“…The best example of this is the Russia-Ukraine war; an article in the European Central Bank blog mentions that "The war triggered a massive shock to the global economy, especially to energy and food markets, squeezing supply and pushing up prices to unprecedented levels." (Arce et al, 2023) This also caused many businesses to shut down and even exit from the war-torn countries, which affected many companies and economies across the globe. According to the World Bank's projections as of March 2023, the conflict could burden developing economies by 70 billion USD.…”
Section: Introductionmentioning
confidence: 99%