If there’s one thing that observers agree on with respect to Thursday’s European Central Bank meeting, it’s that policy makers will announce a series of loosening measures that won’t really make much of a difference to the struggling European economy.
“Failure to act now when the inflation outlook is weakening and, especially, not using the most effective instrument , would signal a remarkable change in ambition,” said Anatoli Annenkov, an economist at Société Générale, referring to quantitative easing, which the ECB could restart by resuming monthly bond purchases.
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