European Bank's 'Forward Guidance' Is a Murky Path

The European Central Bank made history last week, committing for the first time in its 15-year existence to future monetary policy. It's good news that the bank has stopped disdaining the practice, known as "forward guidance," but this is far too small of a baby step.

The European Central Bank made history last week, committing for the first time in its 15-year existence to future monetary policy. It's good news that the bank has stopped disdaining the practice, known as "forward guidance," but this is far too small of a baby step.

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