J.L.M. Campuzano | The ECB calculates that its extreme expansionary monetary measures have contributed nearly two points to European growth since 2014. The question now is whether the benefits of maintaining them outweigh the risks of prolonging excessively lax financial conditions too long.
ECB monetary normalisaton
Ignacio de la Torre | The ECB’s deposit rate, which is now at -0.4%, will move to -0.2% during 2019 and later to 0%. At the same time, during the second half of 2019 the logical thing is for the ECB to begin to raise interest rates. These two factors should fuel a progressive rise in the Euribor from the summer of next year.
The global economy is not yet back to normal after the crisis. The real figures continue to show that Larry Summers and his “Secular Stagnation” hypothesis are right. We are not strong. And every time we want to break the pessimism, the indicators are weak.