ECB Watch: QE extension but unexpectedly at a lower pace
Published on Friday, December 9, 2016 | Updated on Friday, December 9, 2016
ECB Watch: QE extension but unexpectedly at a lower pace
Summary
The ECB extended the asset purchase programme until December 2017, but from April monthly purchases will be cut to EUR 60 bn. Such decision combined with the announced technical changes adds upward pressure on bond yields and leads to steeper curves. The ECB remains in a middle ground between hints of tapering and wording that tries to avoid that impression.
Geographies
- Geography Tags
- Europe
Topics
- Topic Tags
- Macroeconomic Analysis
- Central Banks
Authors
Sonsoles Castillo
BBVA Research - Chief Economist for Financial and Economic Analysis
Miguel Jiménez
BBVA Research - Lead Economist