那提西银行-欧洲-经济理论-如果欧元区通胀再也没有回来怎 么办？.pdfVIP

Flash Economics What if inflation never returned in the euro zone? 20 March 2018 - 300 In view of the latest inflation figures in the euro zone, we can imagine a scenario where euro-zone inflation remains in the vicinity of 1%, far from the ECBs target, due to:  The lack of acceleration in unit labour costs despite companies’ recruitment difficulties;  The stabilisation of the oil price and of the euros exchange rate;  The high level of corporate profit margins. What would happen if euro-zone inflation remained at 1%?  The ECB would have to revise its inflation forecasts, and probably keep interest rates at zero, if it does not want to revise its strategy;  Long-term interest rates would fall back to the level they were at before the rise in expected inflation. Patrick Artus Tel. (33 1) 58 55 15 00 patrick.artus@ @PatrickArtus Ce document est distribué aux Etats-Unis. Merci de lire attentivement lavertissement en fin de document.. Flash Economics Will inflation in the euro zon