Having announced a plan to buy assets at a reduced pace of €30bn per month from January until September 2018 after its last meeting, the ECB seems very unlikely to make any changes this month. It should confirm that corporate bonds will make up a greater share of its asset purchases next year as it approaches limits to its government bond holdings. And it may offer some very tentative hints that net purchases are unlikely to continue into 2019. But with core inflation still very weak, the forward guidance that interest rates will be on hold until well after asset purchases have ended will be unchanged.
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:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services