Economics
Fiscal Policy Is Way to Deal With Divergence, ECB’s De Cos Says
- Central bank’s mandate is euro area inflation as a whole
- Intervention only for monetary policy transmission snags
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It’s not up to the European Central Bank to tackle diverging inflation rates, Governing Council member Pablo Hernandez de Cos said.
“It’s up to fiscal policy” to take care of each nation’s specific problems, he said in Frankfurt on Saturday. De Cos said the central bank’s mandate is to “exclusively focus on inflation in the euro area as a whole.”