That medicine not only is not appropriate, but can also weaken the body and facilitate the attack of the real bacteria, when they finally come later on. To sum up, there are no safe bets for central banks. Before taking decisions, policy-makers must make every effort to diagnose the state of the economy and seriously evaluate all risks ahead.
Only then should they draw up a carefully considered prescription. References Altissimo, Filippo , Ehrmann, Michael, and Smets, Frank (2006), “Inflation Persistence and Price-Setting Behaviour in the Euro Area – A Summary of the IPN Evidence”, ECB Occasional Papers Series No. 46, June 2006. 20  See Jarociński and Smets (2008). 21  See for example Taylor (2007) and Eickmeier and Hofmann (2009).