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Viernes, 9 diciembre 2016

ECB Watch: QE extension but unexpectedly at a lower pace

The ECB extended the asset purchase programme until December 2017, but from April monthly purchases will be cut to EUR 60 bn. Such decision combined with the announced technical changes adds upward pressure on bond yields and leads to steeper curves. The ECB remains in a middle ground between hints of tapering and wording that tries to avoid that impression.

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