German World News: The European Central Bank should now be far away from Italy.

China Well -off. July 22 The old horse seems to be a ironic of history: the day when the Italian Prime Minister Mario Delagi submitted his resignation, the European Central Bank dared to end the Governor of the European Central Bank Dragig in November 2011 The decade of not raising interest rates under the leadership and reaching a climax of ten years, in the one -year zero interest rate and negative interest rate stage.

Media discuss the interest rate hike of the European Central Bank

The German World Daily commented that there was no doubt that the central bank should have raised interest rates for this time. In view of the inflation rate of 8.6% of the euro zone, it is no longer impossible to explain to citizens with the best wishes in the world to explain why the guardians with stable prices did not take action in the end. But there should be no fantasy:

The higher key interest rates will not change the rapid rise in energy and food prices. Monetary policy has no effect on the supply tightened by war and popularity. Their work is to prevent higher inflation from being permanently established in the economy, which leads to a risk spiral of wages and prices continue to rise.

The unstable status of funds will not change much. As long as the actual interest rate is deducted from the interest after inflation, the current deposit account and regular deposit are still negative, and they will continue to suffer considerable losses in the prosperity of the year. However, if the European Central Bank does not want the risk of liabilities to the euro zone country in debt, it should not expect a series of major interest rate hikes.

Italy is now a tester in all places. If the European Central Bank mistakenly use its new anti -split tools to interfere with this highly political crisis, it will seriously damage its reputation and make it more difficult to work as an independent central bank. At the beginning of 1998, the European Central Bank promised citizens to stabilize prices. No one has always talked about unlimited monetary policy. She should adhere to this compass.

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