Central banks have lost a degree of trust, says ECB’s Makhlouf

  • I think we have lost a degree of trust
  • That affects what we should be doing with our decision making
  • We should be explaining it to more people, do more in terms of thinking about the audience we’re talking to
  • We need to be explaining what we’re seeing and why we’re making the judgements we are and talk to the people and communities in a language they can understand

Just that little bit of trust, eh? That’s a bit modest. Pfft. He’s speaking in the context of explaining the decision making by major central banks to a wider audience, and not just financial markets.

This comes of course after having previously brushed aside inflation pressures back in 2021, with the ECB profusely calling it „transitory“. Remember that? And then all of a sudden now needing to pile on aggressively rate hikes in the past year.

Props to him for admitting it but even with knowing what they should do better, let’s face the facts. Central bankers are pretty much just like politicians at this point and they will not have played things out differently given another chance anyway.

This article was written by Justin Low at www.forexlive.com.

Go to Forexlive

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