What can keep euro area inflation high?
讨论了央行在通胀高于目标时可能无法降低通胀的六种原因，包括误判、预期、财政政策、金融市场、衰退担忧或外部力量，并应用于2023-24年欧洲央行的挑战，作为警示信号。
SUMMARY A central bank that faces inflation above target may fail to bring it down. This article discusses six ways in which this happens because the central bank is dominated by: misjudgement, expectations, fiscal policy, financial markets, recession fears, or external forces. It applies this approach to the challenge facing the ECB in 2023–24. The hope is that the factors identified can serve as warning signs for what to avoid.