{"id":4013,"date":"2015-01-04T08:40:00","date_gmt":"2015-01-04T13:40:00","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4013"},"modified":"2015-01-04T08:40:00","modified_gmt":"2015-01-04T13:40:00","slug":"the-ecbs-risky-crossing-of-the-rubicon-european-voice","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4013","title":{"rendered":"The ECB\u2019s risky crossing of the Rubicon | European Voice"},"content":{"rendered":"

The ECB\u2019s risky crossing of the Rubicon | European Voice<\/a>.<\/p>\n

Eurozone monetary officials are expected to make history when they gather for the European Central Bank\u2019s next policy-setting meeting on 22 January. Observers\u00a0expect that Mario Draghi,\u00a0 the president of the European Central Bank (ECB), and his colleagues will finally cross the Rubicon and announce the launch of a large-scale programme of quantitative easing (QE) \u2013 in other words, high-volume purchases of government bonds.<\/p>\n

Although the ECB has resisted QE for more than five years, even as other major central banks embraced it, Beno\u00eet Coeur\u00e9,\u00a0 a member of its executive board, has already called it the\u00a0\u201cbaseline option\u201d.<\/a><\/p>\n

On the face of it, the ECB has many reasons to launch QE. For two years,\u00a0inflation<\/a>\u00a0has consistently failed to reach the 2% target. In November, the annual price growth was just 0.3%, while the recent collapse in oil prices will generate further downward pressure in the coming months. Even more important, inflation expectations have started to de-anchor: forecasters and investors expect the undershooting of the target to persist over the medium term.<\/p>\n

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<\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The ECB\u2019s risky crossing of the Rubicon | European Voice. Eurozone monetary officials are expected to make history when they gather for the European Central Bank\u2019s next policy-setting meeting on 22 January. Observers\u00a0expect that Mario Draghi,\u00a0 the president of the European Central Bank (ECB), and his colleagues will finally cross the Rubicon and announce the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[233,282,1044,661,662],"class_list":["post-4013","post","type-post","status-publish","format-standard","hentry","category-economics","tag-ecb","tag-european-central-bank","tag-mario-draghi","tag-qe","tag-quantitative-easing"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4013"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4013\/revisions"}],"predecessor-version":[{"id":4014,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4013\/revisions\/4014"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}