我们是欧洲人,请不要停止加息

欧洲央行正受到不断加大的压力来在新年之后暂停进一步提高利率。欧洲央行不应当屈从。目前为止,欧洲中央银行的信誉足以控制通货膨胀的预期。但是,在欧洲经济实力继续大幅度提高的当口暂停加息却会带来不必要的价格稳定的风险。

尽管2006年对于欧洲而言是一个增长良好的年份,然而实际利率,也就是用商品和服务而非货币表达的利率从年初开始并未改变。这就意味著,尽管到12月份为止利率在2006年期间提高了150个基点,但是欧洲的货币政策继续刺激经济增长。

在实际利率如此低的情况下,新年之际暂停是为时尚早的。

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