È tempo per un po ’di QE? Nein danke. Vielleicht?
TRANSLATED: Is it time for a little QE? No thank you. Maybe?
Although Mario Draghi, President of the European Central Bank (ECB), announced that the Bank’s governing council is prepared to take emergency action if inflation falls too low, it may be a case of too little, too late. By emergency action, he of course means quantitative easing, which to this point has been anathema to German policy makers.
Each of the EU’s competitors has acted with some form of stimulus, loose monetary policy or unconventional quantitative easing in an attempt to stimulate growth. In the U.S. we have gone through every monetary tool in the bag. In the UK, the Bank of England is so pleased with its QE, it is considering whether it needs to make “any adjustments” (read “any” as in “any, ever”) at all to its bond buying programs.