TLTRO II may reflect renewed ECB focus on transmission, analysts say


The policies unveiled by Mario Draghi yesterday (March 10) may reflect a renewed focus from the European Central Bank (ECB) on improving the transmission channels of monetary policy, analysts have said.

Draghi's announcement that the ECB would run a second round of targeted long-term refinancing operations (TLTRO II) chimes with a speech he made to a European parliamentary committee on February 15.The ECB's governing council, Draghi said then, would "analyse the state of transmission of our

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