-
FX weekly: Brace yourself - People’s QE is coming
It is no secret that we absolute love the honesty of the above quote from the former president of the European Commission, Romano Prodi. New instruments are always invented during times of turmoil, even if they should optimally be implemented during better times. This is the harsh political reality in one single quote. The Corona-crisis has so far paved the way for i) European Union bonds in larger scale, ii) formalized EU cross-border grants, iii) Oprahnomics in the US (it is now even a word in the Urban Dictionary) and iiii) increased research on central bank digital currencies. The latter is probably slowly but ... (full story)