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Monday, February 20, 2006



I'd appreciate some guidance on this, because I'm not an economist.

My understanding is that the ECB's primary objective is price stability, or at least that's what its statute says. The statute also doesn't mention anything about 'unemployment' or 'growth', so far as I can see, so the mandate is not comparable to say, the Fed's: the ECB are technocrat inflation-fighters.

So why the speculation about rates?

Isn't it almost a foregone conclusion what they're going to do?

(It always has been for me, at least since the €uro was introduced)

So why do informed people like yourself treat it as a mystery, NE?

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