Trends in European Productivity and Real Exchange Rates: Implications for the Maastricht Convergence Criteria and for Inflation Targets after EMU by Matthew B. Canzoneri, Behzad Diba, Gwen Eudey. Matthew B. Canzoneri Georgetown University Behzad Diba Georgetown University; Georgetown University Gwen Eudey University of Pennsylvania - Department of EconomicsJune 1996 CEPR Discussion Paper Series No. 1417 Abstract: While overall inflation has fallen dramatically in countries like Italy and Spain, inflation in the home good sector remains stubbornly higher than inflation in the traded good sector. JEL Classification: E31, E58, F02, F11 Suggested Citation Canzoneri, Matthew B. and Diba, Behzad and Eudey, Gwen, Trends in European Productivity and Real Exchange Rates: Implications for the Maastricht Convergence Criteria and for Inflation Targets after EMU (June 1996). 20160314112813 axa0144 7fc15. 20160314113004 axa0144 9d895. 20160314113018 axa0144 8f05a.
20160314113043 axa0144 3668d. How the ECB plans to jumpstart Eurozone economy. 【非凡新聞】ECB擴大寬鬆 金融時報:影響力不如以往. EU Falling Apart as ECB Begins Money Printing, Asset Purchases, Negative Interest Rates! ECB boosts banks, cyber heist foiled | FirstFT. ECB's bond buying explained | FT Markets.  ECB fires monetary bazooka, markets unimpressed. ECB Press Conference - 10 March 2016. ECB drops rate to zero in eurozone’s anti-deflation battle – EurActiv.com. The European Central Bank on Thursday (10 March) fired off a new volley of shots in its ongoing battle to avert deflation in the eurozone and jumpstart economic recovery in the region. The ECB slashed already record-low interest rates, said it would pump massive new sums into the banking system and, for the first time, would start buying corporate bonds.
Initially, the unprecedented scale of the ECB’s action took financial markets by surprise, sparking a rise in eurozone stock markets and sending the euro lower against the dollar. But stock prices subsequently fell back. “Wow. “The central bank came out all guns blazing,” agreed Craig Erlam, senior market analyst at Oanda. The ECB lowered the main rate at which it lends to commercial banks – the so-called refi rate – to zero for the first time ever from 0.05 percent. It pushed the interest rate on its deposit facility for commercial banks to -0.40 percent from -0.30 percent. ‘No deflation’ “We are not in deflation.” European Central Bank.