McGeever, Jamie, (2017), “If central banks can’t taper QE now, when can they? Maybe never”, Reuters, 13 June
As the Fed prepares to raise interest rates again and actively considers how and when to start exiting QE, it appears that the process of normalising monetary policy across the Western world is slowly but surely getting into gear.
Global conditions for unwinding crisis-fueled stimulus look fertile: the strongest economic growth in years, historically low bond yields, inflation and credit spreads, and an unrecognisably healthy banking system compared with 2008.
- Gambetti, Luca, Musso, Alberto, (2017), «The macroeconomic impact of the ECB’s expanded asset purchase programme (APP)», ECB Working Paper Series No 2075, June
- Giugliano, Ferdinando, (2017), «Draghi’s Right to Keep His Foot on the Gas», Bloomberg View, 28 April