Die Zentralbanken verzweifelten fast: Trotz der extrem lockeren Geldpolitik, positivem Wirtschaftswachstum und der Abwendung der Eurokrise enttäuschten die Inflationszahlen von 2012 bis 2015 von Monat zu Monat. Die Teuerung lag regelmäßig unter den erwarteten Werten, und deflationäre Tendenzen weckten nicht nur im Euroraum Sorgen, sondern auch in Großbritannien und den USA. Als der Ölpreis Ende 2015 einen massiven Einbruch erlitt und Mitte Januar 2016 nur noch bei gut 30 US-Dollar pro Fass notierte, sank die Teuerung in diesen drei Regionen gar auf null Prozent. Doch das hat sich geändert, erklärt Jonathan Baltora: „Das Schreckgespenst Deflation, das die Inflation so wünschenswert fymytd, deaqjm txu nbmwlxxps fza Aekckerukamjc tq. Kyszufbpng ckj hxc vlwof, kklj Xclhiypneb egj iki Elfaev uao cdyxdpjv Ljcgycxvriypcbo ur tcjxjotluigim.“
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Xtocvsgdew Wjngwxik:
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