The ECB is unlikely to announce any new policies after its meeting next week as it prepares to implement the quantitative easing programme unveiled in January. President Draghi will claim that QE is already having a positive impact, even before the bulk of purchases has begun. But we suspect that its overall effect will be modest given the already low level of bond yields and the scheme’s limited size. Meanwhile, the Bank will continue to take a hard line on Greece, dealing a blow to hopes that it might help the country to meet its financing needs in the near term.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services