With the largest rental income in the sea in two years toont de Europese Centrale Bank dat ze de strijd tegen inflatie serieus neemt. The meaning of the word is that there is a recession and there are problems for the other land that is bigger. ‘When they landed in a crisis zone, this had to be followed by the heel of the European Union’, said economist Paul De Grauwe from the London School of Economics.
The Europese Centrale bank shakes a versnelling hoger om de inflatie te bestrijden. In July there will be a pension for the first eleven years with 50 base points, now there will be a pension with 75 base points. That is the largest rental income since the invoicing of the euro in 1999. After that, the wording of the contract has been given to you and the citizens who have been invested in it since then. Since the economy would like to be done, the next ECB representative Christine Lagarde will be happy with the plan for the central bank.
The status of the ECB as inflation best rates on the screen, indicate analists for the belief. Does the ECB just need that?
De Grauwe: “Dat is inderdaad het geval. The first statuut of the ECB is written for that ze prijsstabiliteit moet behouden, and that will be tested with deze renteverhoging te doen. Tegelijk means that the ECB is naturally responsible for the fact that the economy does not change the dieperik in Stuurt. That’s the most important thing at that moment.”
Come we met de Renteverhoging not in a recession right? Of a combination of recession and high inflation, de drawnaamde stagflatie?
“That is old koffiedik kijken, but that is risky. Because it is natural that there is a bad situation, you want to know that the product is eighth, that you need to know about the head and that the work can be done. That is also negatief voor de begroting van de overheid, and the moet al veel uitgeven om de burgers te beschermen. When the inflation is high, so the ECB is called for, then there is a risk in the future with the staging. The problem is that the inflation for a large piece attached to the energy prices, and then the ECB is inflated op.”
Hoe gaan we deze Renteverhoging voelen. How much money is there, is there anything you want, now you’ve got it?
“Dat zal niet onmiddellijk zijn. For credits, there is no guarantee of a long-term pension plan. There is a natural association between us: the long-term rent is the monitoring of the missing corte-term rents in the toekomst gaan uitzien. The expected amount is the long-term pension in Belgium which has been set at 2.2 percent.
“Wel zal deze renteverhoging zich iets sooner lateen voelen op de kredietvoet van de kortermijnleningen (bijvorbeeld voor de afbetaling van een auto, JL). Then we zeker tegen and dit jaar de impact van voelen.”
Zullen banks hierdoor also hun spaarrente verhogen?
“I’ll wake up to that. I’ve been critical of that because the banks have to do with all that they had to do. De winsten van banks stijgen, maar toch speak ze onderling af om de spaarrentes voorlopig niet te verhogen. That can now only be done if there is a card in front of it and there is little competition.”
The first part of the economy is the Europese Centrale Bank, which is set to work before the inflation starts. The Amerikaanse centrale bank heeft de pension bijvoorbeeld al veel meer opgetrokken.
“Dat klopt, maar de ECB heeft dan ook a bijkomstig problem dat de Amerikaanse centrale bank not heeft. Elke centrale bank zit won in a tweestrijd tussen energetic inflation beteugelen and otherzijds een recessie proberen te vermijden. The reason for this is that the ECB will waken over the stability in the vicinity of the eurozone. Want as each pension te hoog laat oplopen, risk ever that we een some other land in a situation of crisis brengen, so as dat een a antal jaar gegeden het geval was.”
Daarvoor heeft de centrale bank het Transmission Protection Instrument (TPI), dat te large renteverschillen within de EU zou helpen tegengaan.
“Yes, with the instrument can de ECB obligatie opkopen van bijvoorbeeld Italië als de rente daar te hoog oploopt, om te avoid dat analisten tegen dat country start te speculateren. Maar dat doet natuurlijk de liquidity weer toenemen, so dat kan dan weer een nefaste invloed hebben op de inflatiebestrijding.”
Onder analisten kreeg het TPI al de bijnaam ‘To Protect Italy’. Do you think that the criticism of the ECB will be correct on the other side of the country?
“I don’t think that the ECB can do it any other way. There’s only a little bit of a problem in the EU now, and it’s also possible to take action on the ECB so that it can’t be said to land in a crisis situation. Je kunt land as Italië of Spanje toch niet zomaar wegtoveren? Bovendia, when they landed in a crisis zone, had the need to follow the heel of the European Union. We really want to avoid that.”
How would you rate Christine Lagarde, who will be on-monitored in 2019 before ECB-voorzitter?
“I think that we don’t want to overshadow the roll of the words from the decision of the ECB. The reason for this is that there should be a consensus between the cities and towns and cities in the state. (Voor haviken primeert inflatie bestrijden, duiven willen vooral de economy stimuleren, JL.) That’s a mobile job, but it’s now up to you to do that. That the ECB is now considered to be the pension zo fors te verhogen, toont aan that the consensus within the ECB gegroeid is that the priority of inflationary bestriding must be allowed. That can be followed later.”