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    EN EN: Question For Written Answer Z-000039/2019 To The European Central Bank Domènec Ruiz Devesa (S&D)

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    The document is a question submitted to the European Central Bank regarding measures to achieve its price stability target of below but close to 2% inflation. It notes that inflation has been considerably below 2% since 2013 according to the HICP. Given forecasts of continued low inflation through 2021, it asks if ending asset purchases in 2018 was appropriate and suggests further purchases including of shares and zero-coupon loans to account holders. It concludes by asking what measures the ECB plans to take to move inflation closer to its target.

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    EN EN: Question For Written Answer Z-000039/2019 To The European Central Bank Domènec Ruiz Devesa (S&D)

    Uploaded by

    Ilaria
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    The document is a question submitted to the European Central Bank regarding measures to achieve its price stability target of below but close to 2% inflation. It notes that inflation has been considerably below 2% since 2013 according to the HICP. Given forecasts of continued low inflation through 2021, it asks if ending asset purchases in 2018 was appropriate and suggests further purchases including of shares and zero-coupon loans to account holders. It concludes by asking what measures the ECB plans to take to move inflation closer to its target.

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    Measures

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    The document is a question submitted to the European Central Bank regarding measures to achieve its price stability target of below but close to 2% inflation. It notes that inflation has been considerably below 2% since 2013 according to the HICP. Given forecasts of continued low inflation through 2021, it asks if ending asset purchases in 2018 was appropriate and suggests further purchases including of shares and zero-coupon loans to account holders. It concludes by asking what measures the ECB plans to take to move inflation closer to its target.

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    © All Rights Reserved
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    4 views1 page

    EN EN: Question For Written Answer Z-000039/2019 To The European Central Bank Domènec Ruiz Devesa (S&D)

    Uploaded by

    Ilaria
    The document is a question submitted to the European Central Bank regarding measures to achieve its price stability target of below but close to 2% inflation. It notes that inflation has been considerably below 2% since 2013 according to the HICP. Given forecasts of continued low inflation through 2021, it asks if ending asset purchases in 2018 was appropriate and suggests further purchases including of shares and zero-coupon loans to account holders. It concludes by asking what measures the ECB plans to take to move inflation closer to its target.

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    Question for written answer Z-000039/2019

    to the European Central Bank


    Rule 140
    Domènec Ruiz Devesa (S&D)

    Subject: Measures to achieve price stability

    The European Central Bank (ECB) has stated that price stability should be achieved by
    maintaining an inflation rate of below, but close to 2 % in the medium term. However, since
    2013 the Harmonised Index of Consumer Prices (HIPC) has shown the inflation rate to be
    considerably below 2 % in the euro area. The ECB’s June 2019 Economic Bulletin predicted
    that the HIPC would reflect inflation rates of 1.3 % in 2019, 1.4 % in 2020, and 1.6 % in
    2021.

    Given this outlook, does the ECB consider the termination of the purchases under the asset
    purchase programme (APP) on 31 December 2018 to be appropriate, the reinvestment of the
    matured bonds notwithstanding?

    The euro area economy is not at full employment; this low inflation rate further illustrates that
    it is indeed not operating at full capacity. Further asset purchases, including of shares, are
    warranted, as are direct zero-coupon loans with no maturity date to euro area current account
    holders.

    What measures does the ECB plan to take in order to move the average inflation level in the
    euro area to below, but close to 2 % in the medium term?

    QZ\1186825EN.docx PE639.927v01-00

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