-
ECB Reveals What Markets Are Telling Them Before Each Decision
The European Central Bank has just revealed an unprecedented insight into how officials monitor that their policy message is understood by financial markets. Economists and strategists questioned in May predicted that the institution’s pandemic bond-buying program will end in March, regular asset purchases will continue through 2023, and interest rates will rise in 2024, according to the institution’s newly released Survey of Monetary Analysts, published for the first time on Friday. The compilation of forecasts has been studied at Governing Council decisions ever since a pilot phase started some two years ago. ... (full story)