The ECB has been struggling to implement a programme of - TopicsExpress

The ECB has been struggling to implement a programme of quantitative easing (QE) to counter the deflationary forces in the Eurozone. What one can say today is that it has not been very successful in stopping deflationary forces as is made vivid in Figure 1. We observe that since 2012 inflation has declined steadily in the Eurozone and became negative at the end of 2014. This trend has coincided with a spectacular decline in the balance sheet of the ECB and a concomitant decline in the money base...

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