Central banks are on the losing side of government pacts

A thumbs-down

Markets toasted European Central Bank (ECB) president Mario Draghi’s much anticipated announcement on January 22 that he was pressing ahead with a European government-bond buying programme. This will result in the Eurosystem (the national central banks of the eurozone plus the ECB) purchasing a combination of public and private assets worth €60 billion ($68 billion) a month until September 2016.

Officially, the Eurosystem’s actions can now be termed ‘quantitative easing’ (QE) rather than ‘credi

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: