ECB may change composition of QE, researchers say
Lower levels of sovereign bond acquisitions may allow the central bank to extend stimulus into 2019
The 50% reduction in the monthly asset-purchase programme (APP) of the European Central Bank in 2018 may represent a sharper cut to sovereign bond buying than it first appears, analysts say.
This tighter policy would, however, provide the ECB with the leeway to further prolong the stimulus if the economic situation deteriorates and inflation remains subdued. Fewer acquisitions of sovereign bonds would enable the central bank to extend its stimulus over time without overshooting its rules on
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