Foreign Central Banks
Reductions in the Federal Open Market Committee’s interest rate target this year have been paralleled by three other central banks of the G7, but not by the European Central Bank (ECB). While the economic outlook for all the G7 nations has dimmed at least somewhat, concern about above-target inflation has restrained the ECB from adjusting its policy rates.
Suggested citation: "Foreign Central Banks," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-05, pp. 18, 05.01.2001.