ECB policy working, but with a greater lag - ECB research

European Central Bank researchers say monetary policy is working with a longer-than-usual lag in the current economic conditions, although the fundamental nature of inflation has not changed, ECB research released on Wednesday showed. Deciphering years of stubbornly low inflation, some economists argue that standard monetary policy is ineffective because globalisation, the rapid ageing of the population and technological advances have changed how people save and spend, resulting in lower inflati