The European Central Bank (ECB) has reaffirmed its commitment to begin winding down quantitative easing (QE) operations by the end of the year.
This is despite what looks like choppy waters between now and the planned December end date. At a conference in Frankfurt on 25 October, ECB President Mario Draghi signalled that the bank wouldn’t be deterred by Italy’s looming confrontation with Brussels, Brexit risks or the current rout in capital markets.
The ECB’s governing council still “anticipates” an end to their asset purchases of €15bn (£13.1bn) a month, mostly in the form of eurozone government bonds. This is despite acknowledging the “weaker momentum” in the eurozone economy, and the threats posed to the global economy from Donald Trump’s trade policies, emerging market struggles and Brexit.
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