What next for ECB Monetary Policy, the EU Economy, EUR/USD? | Podcast
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Talking points on this podcast:
- ECB monetary policy: Where now for the EU economy and EUR/USD?
- Eurozone corporate bonds: Worth considering – or too illiquid?
- Should stock market investors look to Paris, Frankfurt, or both?
This time on Trading Global Markets Decoded, our host Martin Essex is joined by Claus Vistesen, Chief Eurozone Economist at Pantheon Macroeconomics. On the agenda this time is a more European focus, with the latest on ECB monetary policy and its impact on the EU and EUR/USD, the viability of Eurozone corporate bonds, and a closer look at the status of European stocks.
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ECB monetary policy, the EU economy, EUR/USD
Talk kicks off with the state of the Eurozone economy – where now for easing? Claus says, “The ECB has in the last 6-9 months doubled down [on easy policy], and we’re left with an ECB that in my view is set up to be extremely dovish.”
The ECB has signaled it’ll keep rates negative and may even lower them further; and that it’ll keep buying assets via the new QE program at €20 billion per month.
This will be the plan until the ECB is able to forecast core inflation going to 2%. What does Claus think of this? “As an economist for me that means they’re stuck,” he says. “I don’t think core inflation will go up to that extent, and so that means rates will remain negative and they’ll keep buying assets. It seems like they’ve locked themselves in.”
So what can the ECB do now? Listen to the podcast to find out.
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