1. Newsroom
  2. What is the ECB’s strategy?
Menu
Analysen 29.01.2018

What is the ECB’s strategy?

What is the ECB’s strategy?

Focus on the ECB’s monetary policy: still accommodative, but for how long?


  • In the eurozone, momentum remains positive and the growth scenario has been regularly revised up. 2.1% is expected for 2018.
  • Inflation is still below target (1.3% y/y vs 2%), recent EUR strengthening has postponed any rebound in inflation.
  • The ECB has already reduced its government bond and credit purchases from EUR 60 bn to EUR 30 bn; these amounts should stay unchanged until September 2018.
  • Several ECB governors have recently changed their minds and adopted a less dovish view on QE and interest rate management.
  • Despite inflation remaining low, the ECB should shift to less dovish communication in Q2 as strong growth continues.
  • The ECB is increasingly likely to end its QE next September.
  • A first rate hike, expected around Q2-2019, will be the first step in its exit strategy.

graph-eurozone.jpg


Expertise

Impact investing - Contributing to a more sustainable future

What are the key features of impact investing?

Read more

Meistgelesene News

Analysen 19.02.2020

Changes in consumption patterns

Despite being fast-moving and quite unpredictable, changes in consumption patterns are expected to reshape the economic landscape.

Analysen 15.04.2020

The Case For Frontier Debt

India’s total infected cases (979) and fatality rate (25) remain low but it has been escalating. According to the World Health Organisation (WHO), this can become overwhelming, if uncontrolled.

Analysen 22.04.2020

Impact Report 2019: an eventful year

UBP is proud to release the second edition of its Impact Report.

Auch lesenswert

Analysen 06.07.2020

US Presidential Election Comes Into Focus

Spotlight - US President Trump’s re-election polls have fallen to their lowest levels since polling began for the 2020 Presidential contest raising the potential for a change in the presidency in 2021.

Analysen 03.07.2020

COVID-19: Die UBP hält Sie auf dem Laufenden

Seit dem Ausbruch des Coronavirus begleiten und unterstützen wir unsere Kunden während dieser ungewöhnlichen Zeit einer weltweiten Gesundheitskrise. Die Bank informiert Sie regelmässig über die Anpassungen ihrer Massnahmen an die von den Gesundheitsbehörden vorgegebenen Vorsichtsregeln. Ausserdem kommen unsere Experten zu Wort, welche auf die Auswirkungen der Pandemie auf die Weltwirtschaft und die Finanzmärkte eingehen.

Analysen 30.06.2020

Aktualisierter Ausblick 2020

Weltwirtschaft - quo vadis?