The corporate sector purchase programme (CSPP): Challenges and future prospects
In-Depth Analysis
15-09-2017
The ECB has adopted a variety of different unconventional monetary policy measures since the Global Financial Crisis. In 2016, the ECB additionally adopted the corporate sector purchase programme (CSPP), during which the ECB buys bonds of the private non-financial sector for the first time. One important reason for the adoption of the CSPP possibly was that business investment has been persistently weak in the euro area after the Global Financial Crisis. In this briefing paper, we provide a first assessment of the CSPP, including a discussion of challenges for and future prospects of the programme.
In-Depth Analysis
External author
Salomon FIEDLER, Nils JANNSEN, Matthias RADDANT (Kiel Institute for the World Economy)
About this document
Publication type
Keyword
- bank
- bond
- economic analysis
- economic analysis
- ECONOMICS
- EU institutions and European civil service
- EU investment
- euro area
- European Central Bank
- EUROPEAN UNION
- FINANCE
- financial institutions and credit
- financial market
- financial stability
- financing and investment
- free movement of capital
- investment promotion
- monetary economics
- monetary relations
- single monetary policy