ECB's Gonzalez-Paramo on globalisation, mon policy

In the speech 'Globalisation and monetary policy' given on 15 March Jose Manuel Gonzalez-Paramo of the ECB said globalisation does not affect the central role and overriding responsibility of central banks to preserve price stability.

"On the contrary, the anchoring of expectations is even more essential in a world where adverse shocks and inflationary pressures in one country are more easily transmitted to others. I also believe that monetary policy still has tools effective enough to achieve

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