Swiss Economicblogs.org
The ECB’s announcement on bond purchases leads us to expect its QE programme to end by Q1 2019, with a hike of the main refi rate in September that year.The European Central Bank’s (ECB) decisions today were in line with our and consensus expectations, including a slower pace of asset purchases (rescaled from EUR60bn to EUR30bn per month), a longer and open-ended extension (until September 2018, or beyond if necessary), and stronger forward guidance (committing to keeping policy rates at...
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