ECB policies [What Think Tanks are thinking]

28-04-2017

The European Central Bank is pushing ahead with its monetary stimulus programme, which was launched more than two years ago to counter deflationary pressures in the euro zone economy, and to strengthen then fragile economic growth. Some economists and politicians say the time is becoming ripe for the ECB to taper the scheme, which involves monthly purchases of government and corporate bonds worth some 60 billion euro, as the deflationary threat is disappearing and economic activity picks up. The ECB has assumed greater supervisory responsibilities under euro-area governance reforms aimed at preventing any repeat of the 2008-09 financial crisis. Its role could be reviewed during the expected next wave of reforms that would deepen cooperation among the currency area's members. This note offers a selection of recent studies, reports and commentaries by some of the major international think tanks and research institutes on ECB policy.

The European Central Bank is pushing ahead with its monetary stimulus programme, which was launched more than two years ago to counter deflationary pressures in the euro zone economy, and to strengthen then fragile economic growth. Some economists and politicians say the time is becoming ripe for the ECB to taper the scheme, which involves monthly purchases of government and corporate bonds worth some 60 billion euro, as the deflationary threat is disappearing and economic activity picks up. The ECB has assumed greater supervisory responsibilities under euro-area governance reforms aimed at preventing any repeat of the 2008-09 financial crisis. Its role could be reviewed during the expected next wave of reforms that would deepen cooperation among the currency area's members. This note offers a selection of recent studies, reports and commentaries by some of the major international think tanks and research institutes on ECB policy.