Digital revolution has only small impact on inflation: ECB’s Weidmann

Digital revolution has only small impact on inflation: ECB's Weidmann Reuters FRANKFURT (Reuters) - Rapid technological advances cut inflation only marginally and temporarily, Bundesbank President Jens Weidmann said on Monday, weighing in on one of the biggest debates in modern central banking. With much of the industrialised world struggling with anaemic inflation levels, some economists argue that rapid technological development keeps a lid on prices, forcing central banks to exhaust their firepower fighting an economic paradigm shift, and leaving them with few tools for the next downturn. But Weidmann, a powerful voice on the European Central Bank's rate-setting Governing Council, argued that a deep economic crisis a decade ago and the slowness of the recovery are the main culprits - not the start of the digital age. The post Digital revolution has only small impact on inflation: ECB's Weidmann appeared first on Firstpost. FirstPost Unsubscribe from these notifications or sign in to manage your Email Applets.