Pantheon Macroeconomics - Markets initially objected to last week's ECB package, but the tune has since changed. The decision to focus on direct credit easing to the domestic economy, via more attractive TLTROs and corporate bond purchases--rather than by lowering rates further--is now seen by many analysts as a stroke of genius.

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15 Mar. 2016 Markets Embrace new ECB tools, but are getting the story wrong

By Claus Vistesen

Markets initially objected to last week's ECB package, but the tune has since changed. The decision to focus on direct credit easing to the domestic economy, via more attractive TLTROs and corporate bond purchases--rather than by lowering rates further--is now seen by many analysts as a stroke of genius.

Posted: 16th Mar 2016 in 'Eurozone Documents'

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