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ECB pushes on a string
Aviva Investors have produced an analysis of the current situation facing the ECB. The key points are: - Growth in the euro zone has stalled and deflation looms
- Banks fail to pass on cheap funding
- ECB’s next targeted long-term refinancing operation due in December
- If this funding fails to reach the real economy, calls for QE will intensify
- But ECB unlikely to act until mid-2015
The full report is available here.
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