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Even chance ECB to start printing money
worldtraveller
Posts: 14,013 Forumite
The European Central Bank could soon bow to pressure to print money to prevent a further escalation of the euro zone's debt crisis, with respondents in a Reuters poll giving an even probability the ECB would adopt a policy of quantitative easing.
The poll of 50 bond strategists across Europe and the United States conducted this week gave a median 48 percent probability that the ECB will be forced to conduct outright quantitative easing (QE).
That would be a highly controversial break from its existing policy, where it offsets government bond purchases in its Securities Markets Programme by draining liquidity from the system in separate operations.
Of those who predicted the ECB would start QE, as the Federal Reserve and the Bank of England have done, a majority said it would happen by March 2012.
A slim majority, 25 of 49, of analysts saw an even bigger role for the ECB, expecting it to become the lender of last resort, providing emergency loans for governments.
Reuters
My gut feeling tells me yes on both counts. Certainly the former, IMHO, as I've posted in other threads. A classic case of the slow creep towards inevitable EU policy/treaty changes.
The poll of 50 bond strategists across Europe and the United States conducted this week gave a median 48 percent probability that the ECB will be forced to conduct outright quantitative easing (QE).
That would be a highly controversial break from its existing policy, where it offsets government bond purchases in its Securities Markets Programme by draining liquidity from the system in separate operations.
Of those who predicted the ECB would start QE, as the Federal Reserve and the Bank of England have done, a majority said it would happen by March 2012.
A slim majority, 25 of 49, of analysts saw an even bigger role for the ECB, expecting it to become the lender of last resort, providing emergency loans for governments.
Reuters
My gut feeling tells me yes on both counts. Certainly the former, IMHO, as I've posted in other threads. A classic case of the slow creep towards inevitable EU policy/treaty changes.
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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