As certain key economic statistics are rising in the Eurozone, the European Central Bank (ECB) announced today that they were dropping interest rates “to ward of deflation.”
ECB also launches asset backed securities purchase plan
The ECB also announced they were engaging in asset backed securities, turning to a “quantitative easing” like stimulus program similar to that of the US Federal Reserve.
Although some reports initially called the move a “surprise,” ValueWalk reported yesterday the move into an artificial stimulus program was anticipated. We wrote: “Don’t be surprised to see quantitative easing (QE) across Europe,” pointing to a recent research note from Barclays. “The real issue will be the resulting impact on...
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