Supplies of monetary methadone will continue

The ECB's decision on QE illustrates the dilemma facing central banks across the world

27th October, 2017
ECB president Mario Draghi at Thursday's press conference in Frankfurt. Pic: Getty

Confused? You shouldn’t be: in the world crafted out of unorthodox monetary policies of the last eight years by the central bankers, more QE can be less QE, and vice versa.

In a nutshell, despite the announcement that it will start trimming back its long-running asset purchases starting in January, yesterday’s ECB Governing Council decision was a dovish one.

Mario Draghi did promise a relatively fast-paced reduction in the volumes of...

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