Swiss Economicblogs.org
The ECB has hinted it intends to remain flexible when it comes to the composition of future asset purchases, with a chance that corporate bonds will play a bigger role.Arguably, the most important aspect of last week’s ECB quantitative easing (QE) announcement was that the programme will remain open-ended. As we have long suggested, the pledge to extend asset purchases beyond September 2018 can only be credible if there are enough German Bunds for the ECB to buy. Bund scarcity could be...
Read More »ECB QE composition – some degree of constructive ambiguity
