Fiscal Policy and the Cost of Living Crisis

Fiscal policy has played a huge role in alleviating the burden for many of the people hit by recent shocks, most notably the pandemic and the energy crisis. We now find ourselves in yet another crisis, a cost of living crisis, and wages are not rising in quite the same way that prices are. And this is increasing the burden, especially for the low-income groups. But how exactly can fiscal policy best help the most vulnerable here directly? I mean, as a central bank, we can't really do that. It's more for governments.

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