Duisenberg's Lesson for The ECB

Krauss, Melvyn
January 2009
International Economy;Winter2009, Vol. 23 Issue 1, p70
Academic Journal
The article focuses on the didactics of Wim Duisenberg, the first president of the European Central Bank (ECB), for ECB, in preparing its move to raise interest rates. These include Duisenberg's instruction over a past issue about the bank's damage on credibility from raising rates in a deteriorating economic situation. Despite of the warn, ECB continues to pre-announce its moves even though the current economic environment is one of anything that usually do. It suggests that ECB should look into the practices of its first president to prevent further damage to its credibility.


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