Report
EUR 34.20 For Business Accounts Only

Rate cuts are still on the ECB’s agenda

​Following the ECB’s latest monetary policy package a number of analysts were quick to stress that the ECB has shifted policy. More specifically, they claimed that the ECB has shifted its focus towards more quantitative and credit easing, from interest rate tools and euro depreciation. In a previous comment, we stressed that, at face value, the inclusion of investment grade corporate bonds in the asset purchase program, and the launch of the new TLTRO series, as well as the ECB’s desire not to signal significantly lower negative rates, pointed towards that conclusion, but that the door for further rate cuts was not completely shut, despite the short-term emphasis on unconventional tools.

On Friday, Peter Praet, member of the ECB’s executive board and chief economist hinted that rates could be cut further, during an interview with La Repubblica. What are the implications for projected ECB monetary policy?

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Iniohos Advisory Services
Iniohos Advisory Services

​Iniohos Advisory Services is an independent investment research and consulting house, founded by investment professionals with long and in-depth experience in global financial markets.

Iniohos Advisory Services aims to provide top-end investment solutions to High Net Worth Individuals and institutional investors, ranging from proactive investment research to tailor made financial and risk modelling.

Our research covers the areas of investment and macroeconomic research, investment strategy and asset allocation, financial modelling and risk management.

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