European Central Bank
The United States and the European Union can avoid recession and achieve a soft landing by bringing inflation down to an acceptable level, a U.S. central bank official said on Aug. 2.
"A soft landing is feasible in the U.S. and the EA [euro area]," St Louis Federal Reserve President James Bullard during a speech at New York university.
The new tool being promoted to shield southern European countries as interest rates may rise "not need to be used if it is strong enough to persuade investors not to try it".
This is what the governor of the Bank of Greece and member of the Board of Directors of the European Central Bank, Giannis Stournaras, said in a televised interview with Bloomberg.
Finding the right monetary policy response to tackle soaring inflation is an "art," European Central Bank President Christine Lagarde has said.
"It is not a science," Lagarde said on June 29 at a panel at the ECB's annual central banking conference in Portugal.
"What we are doing there is an element of art," she said.
Inflation in the Eurozone reached a record 3.4% for the last 13 years in September, according to Eurostat data. This is an increase of 0.4% compared to August. Core inflation, excluding food, energy, alcohol and tobacco, rose to 1.9% from 1.6% in August. The European Central Bank (ECB) expects the rate to rise to 4 by the end of the year, which would exceed the bank's target twice.