The ECB has reached a historic turning point and will now end its QE program. So far, the ECB has been very successful in engineering the monetary policy reversal without triggering financial market volatility. This week’s decision by the European Court of Justice (ECJ) in favor of the ECB and against German euro critics is an important confirmation for the ECB’s course.
Monetary policy in the euro area will remain expansionary for a long time to come. The ECB has … [continue reading]Read more