So, ECB QE surprised a little. 60bn per month, not 50. A re-emphasis of the determination to buy private sector assets too. Most importantly, stressing that the purchases were open-ended, to be continued until there was a sustained improvement in the inflation outlook, and 'at least' until September 2016. So no preliminary cap on QE as previously guessed.
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ECB QE: get rid of 'but below' to sharpen…
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So, ECB QE surprised a little. 60bn per month, not 50. A re-emphasis of the determination to buy private sector assets too. Most importantly, stressing that the purchases were open-ended, to be continued until there was a sustained improvement in the inflation outlook, and 'at least' until September 2016. So no preliminary cap on QE as previously guessed.