Natixis - Jusqu’à quand la BCE va-t-elle maintenir une politique d’achat d’obligations ?

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Natixis

Patrick Artus

Jusqu’à quand la BCE va-t-elle maintenir une politique d’achat d’obligations ?

L a BCE a décidé de prolonger le PEPP ( programme d ’ achat de dette lié à la C ovid ) j usqu ’ en mars 2022 et jusqu ’ à 1 850 milliards d ’ euros . M ais ce programme peut être encore prolongé ; jusqu e quand ? Pour essayer de le savoir, nous nous interrogeons sur : l’output gap ( le degré de sous - emploi ) dans la zone euro ; l ’ inflation de la zone euro ; les politiques budgétaires de la zone euro ; le risque de crise des pays périphériques ; le risque d ’ appréciation de l ’ euro . Il en ressort que le scénario le plus probable est la poursuite d es achats de dette par la BCE bien plus tard que mars 2022.

07/01/2021 8 FR

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Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

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Patrick Artus

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Jusqu’à quand la BCE va-t-elle maintenir une politique d’achat d’obligations ?

Where does China stand following the trade war truce?

France, second highest public spendings in the euro area: where do the differences with the others come from?

France, vice-championne des dépenses publiques en zone euro : d’où proviennent les écarts avec les autres pays ?

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