investmentwatchblog.com / Submitted by IWB, on September 10th, 2016
Just one week after the eyes of the world were looking at Wyoming where the Federal Reserve had its annual meeting in Jackson Hole, the council of the European Central Bank came back from its summer recess, and even though we didn’t expect anything special to be announced, we were looking forward to read the fine print associated with the ECB’s decision.
As expected, nothing changed. Some people were expecting the ECB to either increase or extend its Quantitative Easing program, but we didn’t agree with this view. After all, the current program is still running until March next year, which is six months from now and it would have been a sign of weakness if the ECB would now already take a next step to ensure the cash will continue to be pumped in the economy of the Eurozone (as the M3 Money supply continues to increase at a steady pace). Additionally, we do have the impression the main central banks in the world are now basing their policy decisions on each other.
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