Supplies of monetary methadone will continue
The ECB's decision on QE illustrates the dilemma facing central banks across the world
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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