Friday, March 16, 2012

16/3/2012: ECB policy - Death Star Can't Do Growth

Two charts from the ECB's monthly bulletin that really do describe the anti-inflationary madness of Europe manifested in "Kill Economy, Keep germans Safe from Inflation" mantra:

 And in case you need a summary in numbers:

Look at differentials in growth on M1,M2 and M3 and look at credit to the private sector - also see next chart.
Yep, go into economic slowdown and tighten credit supply growth. Nice.
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