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Monetary policy when one size does not fit all

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  • Fernanda Nechio

Abstract

The European Central Bank recently raised its target interest rate for the first time since the 2008 financial crisis. When compared with a simple interest rate rule, this rate hike appears consistent with the euro area's nascent economic recovery and rising inflation. However, economic conditions vary greatly among the countries in the euro area and the ECB's new target rate may not be suitable for all of them.

Suggested Citation

  • Fernanda Nechio, 2011. "Monetary policy when one size does not fit all," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue june13.
    • Handle: RePEc:fip:fedfel:y:2011:i:june13:n:2011-18
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