ECB’s TLTRO Program Could Boost Balance Sheet By €1.5 trillion: JPMorganMani
As negative rates are losing some of their initial appeal, the ECB's recent policy shift emphasis to TLTRO (Targeted Longer-term Refinancing Operations) with a sizable package will facilitate fixed-rate lending for four years at 0% or potentially as low as -0.4%. This could boost the ECB’s balance sheet by an additional €1.5 trillion, believe JP Morgan analysts. Bruce Kasman and colleagues argue in their March 11 research note titled “Global Data Watch” that the fog of uncertainty over the
This content is exclusively for paying members.
If you are subscribed and having an account error please clear cache and cookies if that does not work email [email protected] or click Chat.