lundi 16 mars 2015
Here's What Economists Think About the ECB's Historic Stimulus Plan
Posted on 19:29 by nice news
Mario Draghi will match his words with action.
That's the bet of economists surveyed by Bloomberg News one week into the European Central Bank's 1.14 trillion-euro ($1.2 trillion) bond-buying program. Here's what they said about the size, duration and composition of the stimulus plan:
How big will quantitative easing ultimately be?
In announcing the program on Jan. 22, President Draghi outlined 60 billion euros in monthly spending over a 19-month horizon. Around one third of economists polled said the ECB will hit its exact target, while another third expects the central bank to overshoot. Sixteen percent said QE would reach 1 trillion euros. Eighty-six percent of economists predict the ECB will successfully spend 60 billion euros this first month. How long will QE last?
Draghi pledged asset purchases through September 2016 or until there's "sustained adjustment" in inflation rates toward 2 percent. About two thirds of the economists in our survey bet on the former. Nearly all the remaining respondents appear more convinced by Governing Council member Ignazio Visco, who told Bloomberg Television on the day after the announcement that the plan is in fact "open ended." Five percent see QE ending in October of next year, 10 percent in December, with a further 18 percent saying it will drag on into 2017.
That's the bet of economists surveyed by Bloomberg News one week into the European Central Bank's 1.14 trillion-euro ($1.2 trillion) bond-buying program. Here's what they said about the size, duration and composition of the stimulus plan:
How big will quantitative easing ultimately be?
In announcing the program on Jan. 22, President Draghi outlined 60 billion euros in monthly spending over a 19-month horizon. Around one third of economists polled said the ECB will hit its exact target, while another third expects the central bank to overshoot. Sixteen percent said QE would reach 1 trillion euros. Eighty-six percent of economists predict the ECB will successfully spend 60 billion euros this first month. How long will QE last?
Draghi pledged asset purchases through September 2016 or until there's "sustained adjustment" in inflation rates toward 2 percent. About two thirds of the economists in our survey bet on the former. Nearly all the remaining respondents appear more convinced by Governing Council member Ignazio Visco, who told Bloomberg Television on the day after the announcement that the plan is in fact "open ended." Five percent see QE ending in October of next year, 10 percent in December, with a further 18 percent saying it will drag on into 2017.
Here's What Economists Think About the ECB's Historic Stimulus Plan
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