Who is scared of Inflation?
Central banks have a problem. No matter what they do, investors are not satisfied… This is at least the idea you get when reading the central bank’s publications and the reactions at the stock markets. However, maybe this statement reveals a deeper laying issue. When thinking about the central bank’s functions you will find a variety of duties but nowhere will you find their raison d’etre as pleasing investors. Looking back at the last decade, this fact can easily be forgotten. Printing endless money and keeping up purchasing programs did please investors. But not necessarily the general public.