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Change Is Coming at the ECB. Just Not Quickly.

Moss, Daniel, (2017), Change Is Coming at the ECB. Just Not Quickly.”, Bloomberg View, 18 Ιουλίου

The European Central Bank is wrestling with how to exit the super-accommodative policy that’s dominated Mario Draghi’s tenure as president.

In trying to determine the path of this off-ramp, it might be instructive to look backward. To December of last year, to be precise. That’s when the ECB took what looks in retrospect like a first tentative step back from quantitative easing, the huge program of bond buying aimed at keeping interest rates low.

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