It's now or never? On black boxes and ECB quantitative easing


One enters it, the other thinks of it

  • The ECB does not exclude to buy government bonds if... The BoJ does it on a large scale.

Eurozone

It’s now or never? On black boxes and ECB quantitative easing

  • The question regarding QE including government bonds purchases is an increasing urgent issue. Acting swiftly has a number of disadvantages and risks and is also politically sensitive. But waiting could be even riskier.

France

Recovery possible

  • Growth in France was stronger than expected in the third quarter. For the time being, the growth prospects for the fourth quarter look less rosy. Hopes of a recovery, which have been confounded until now, are gradually expected to take shape in 2015.

Japan

Abenomics deeper in uncharted waters

  • To prevent government spending spiralling out of control, the BoJ will continue to buy treasury bills and JGBs even after reaching the inflation target in 2016 in order to keep interest rates low. The yen is likely to weaken further in the medium term.

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