January 2018 Analysis

Monetary Policy - Implications Of ECB's Dovish Taper - JAN 2018

The European Central Bank's tapering announcement in October points the way to a gradual exit from extraordinary accommodation, but we continue to believe that policy will remain very easy for years. Our core view remains that the ECB will continue expanding its balance sheet into 2019 and keep its benchmark interest rates on hold until 2020, a policy mix that will keep the euro on the back...