ECB QE could theoretically surpass €2 trillion according to reported program details - page 8
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ECB QE Count: PSP +13.022bn last week
Latest ECB QE numbers
The ECB has been trying to ramp up ABS purchases but it doesn't look like they're having much luck. The week before last they were said to be trying to buy up to 645m from the Netherlands and Ireland alone
ECB's Nowotny hints at extension of QE program
Nowotny in comments to Die Presse
That's not normally a way that someone uses the word 'thinkable' but what he's saying is that it's something to consider.
The ECB's 60B euro/month program is slated to expire next September It's probably only a matter of time until it's extended or expanded.
We are going to see exactly the same thing with ECB QE as with FED QE : as long as the pockets of the rich are not filled enough, the ECB QE will not stop. The only unknown is how much is "enough" for the already rich. Judging from the US example, it is never enough (there were 3 QEs already, and there will be 4th too)
It is so much talk about FOMC that everybody is forgetting how ECB is pouring the money into the pockets of the already rich. Nice job
It is so much talk about FOMC that everybody is forgetting how ECB is pouring the money into the pockets of the already rich. Nice job
Whenever they turn on the printing machines, they will not tell us what is the real reason for that. Instead they are going to tell some fairy tales
Whenever they turn on the printing machines, they will not tell us what is the real reason for that. Instead they are going to tell some fairy tales
That will last forever. There is no turning back
ECB will continue monitoring rather than acting in October - Livesquawk
Livesquawk with an MNI sources story
Despite the increased rhetoric on QE from ECB members, I don't think there's many people who think that the ECB will act again this soon
Latest ECB TLTRO disappoints expectations
ECB TLTRO sees €15.548bn taken up against around €70bn expected
Lest we forget the other liquidity pumping measures they've got up their sleeves
The estimated range for today was pretty wide at 35-120bn and it's come in well below that
The last TLTRO's have been much higher
To give it the benefit of the doubt the lower take up should be a sign that liquidity is returning to normal and there's no need for banks to soak more money up. Of course that needs to be balanced with improving credit conditions and better lending and borrowing to the economy. QE is also another reason why the numbers should tail off now.
With excess liquidity jumping to 470bn from 71bn in Nov, the ECB might need to start planning how to drain it off further down the line
source
The pouring from our pockets to their pockets continues
ECB Suspends Purchases of VW Debt
In a fresh blow to the scandal-ridden automaker, the European Central Bank (ECB) has decided to halt buying Volkswagen debt that finances the sales of its cars, as it reviews the financial fallout of the scandal associated with the company.
The German carmaker installed deceptive software on its diesel cars which reduces engine performance when a car is being tested for emissions. It is estimated that some 11 million vehicles were affected by the software.
The sharp decline in VW shares has prompted the ECB to consider the further inclusion of VW bonds in its €60 billion-a-month asset buying program, according to reports by the Financial Times.
Such a decision, if confirmed, would make it harder for VW to finance its operations. Results from the ECB review are expected as soon as this week, insiders told the FT. However, the exclusion of VW from the ECB’s bond buying was not a forgone conclusion, they noted.
The company is already facing the consequences from its emissions testing scandal that is expected to cost VW billions in fines in the US and possibly elsewhere and has led to the resignation of former CEO Martin Winterkorn.
The automaker must explain how "cheating" software was used on millions of vehicles to evade emission tests, German Chancellor Angela Merkel’s chief of staff Peter Altmaier told Bloomberg TV on Monday morning.
"This is a serious matter. Volkswagen must clarity what went wrong, how it went wrong, and how it can be repaired," he said.
Some other buyers of debt are expected to follow the ECB.
source