Monetary Policy: What if the ECB stopped reinvestment in sync with the Fed?

We estimate that the ECB’s bond-purchasing program will be tapered as of early 2018. But what if the ECB opted to stop reinvesting the principal of maturing bonds? Could it time its “soft tapering” alongside the Fed’s shrinking of balance sheet?​

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ecb-fed-normalization-tapering-strategy-infographic-sep17.pdfecb-fed-normalization-tapering-strategy-infographic-sep17.pdf


ecb-fed-normalization-tapering-strategy-infographic-sep17.pdf

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