At last week's ECB meeting Christine Lagarde announced that the central bank has started out on a "journey" toward the normalization of monetary policy through a series of measures that it will take gradually over the next few months.
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The main central banks have brought forward the withdrawal of their monetary stimulus measures (rolled out during the COVID-19 crisis) to anchor inflationary expectations, and are now inclined toward raising interest rates earlier, and possibly even faster, than expected.
The central banks of the major developed economies will be closely monitored as they are heading for the exit strategy, i.e. the unwinding of the massive monetary stimulus rolled out during the COVID-19 crisis. The challenge is huge because of …
The ECB announced, as expected, the end of the PEPP in March, and approved several measures to soothe the cliff edge that this measure implies
These were the words of Christine Lagarde, when she began to field the round of questions at last Thursday's press conference after the European Central Bank's (ECB) monetary policy meeting — giving the impression that this had been the main to…
No surprises came out of last Thursday's ECB meeting, with the expected announcement of a reduction in asset buybacks under its pandemic emergency purchase program (PEPP). The big decisions on monetary policy measures will have to wait until its meets on December 16.
Last week the ECB held its first meeting since announcing its Strategy review of monetary policy a few days ago, in which it faced the dual challenge of nailing down future strategy and taking decisions on existing policies.
June will be a key month for discovering how the two main central banks—the Federal Reserve (Fed) and the European Central Bank (ECB)—plan to begin to reverse the unprecedented expansionary policies launched at the start of the COVID-19 crisis.
The Asset Purchase Programme will end in December 2018. However, interest rates will remain on hold at least until the summer 2019, later than expected. Macro projections were revised in line with expectations: GDP down in 2018 to 2.1% and infl…
The ECB removed the easing bias on the Asset Purchase Programme. Macro projections remained mostly unchanged. Protectionism (re)emerges as a downside risk.