 Media contacts  Copyright 2020, European Central Bank  https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201022~d66111be97.en.html  5/6  22/10/2020  On the edge of a new frontier: European payments in the digital age  https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201022~d66111be97.en.html  6/6
When farmers were in distress about non-tradable inflation and the “blunt instrument of monetary policy”, I and one or two others on the receiving end, said: “Hold on, what about the runaway prices for farm land? They’ve been going up just as fast or faster that property in town.” “Not fair,” replied various farmers’ representatives.