Oireachtas Joint and Select Committees

Wednesday, 18 February 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Mr. Marco Buti:

In regard to monetary policy-making, we looked at the behaviour of inflation. Inflation for most of the period was slightly above the European average but in a country still in a catch up phase, this is normal. In terms of the overall responsibilities for monetary policy, that rests with the ECB and not with the Commission.

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