Don’t Worry About ECB Stimulus Even After Bond Buying Stops
Oxford Economics calculations suggests steady balance sheet from ECB will keep bond yields down Source: Bloomberg Markets As the European Central Bank brainstorms scenarios for winding down its 2.3 trillion-euro ($2.8 trillion) asset-purchase program, there is what may sound like a chicken-and-egg problem to solve. It goes as follows: when the central bank buys bonds and its balance sheet grows,…
