El excelente economista Guido Tabellini, Profesor de la Universidad de Bocconi, publicó hoy un interesante editorial titulado "Why Central Banking is no longer boring" en donde dice lo siguiente:
The European Central Bank is going even further, surprising everyone with a warning that a hike in interest rates is imminent, despite the global slowdown and the ongoing credit crunch. This is remarkable, because the source of higher inflation is clearly exogenous to the Euro area and not due to domestic overheating or wage increases. By implication, the ECB welcomes a slowdown of the European economy to make sure that external inflationary pressures do not ignite a domestic wage-price spiral. The contrast with the Fed approach could not be more striking; one of the two central banks must be making a mistake.