Pantheon Macroeconomics

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7th Mar 2023 15:42Eurozone, Daily Monitor

  • The ECB started QT last week, to reduce the size of its balance sheet...
  • ...Excess liquidity dampens the transmission mechanism of monetary policy, in other words, rate hikes.
  • We think the ECB will nudge up the pace of QT in H2, despite big incoming TLTRO repayments.

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Keywords for: 8 Mar 2023 Eurozone Monitor

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