{"id":169,"date":"2020-12-08T18:14:11","date_gmt":"2020-12-08T18:14:11","guid":{"rendered":"http:\/\/www.bbinv.es\/?p=169"},"modified":"2020-12-08T18:14:11","modified_gmt":"2020-12-08T18:14:11","slug":"ecb-to-stay-easy-and-steady-for-longer-by-ts-lombard","status":"publish","type":"post","link":"https:\/\/www.bbinv.es\/?p=169","title":{"rendered":"ECB to stay easy and steady for longer by TS Lombard"},"content":{"rendered":"\n<ul><li>Double-dip recession risks have increased &#8211; the ECB will add more stimulus this week<br>&nbsp;<\/li><li>The focus will be on extending support for longer through PEPP and TLTROs<br>&nbsp;<\/li><li>Asset purchases in response to the pandemic could reach \u20ac2.7trn by June 2022<br>&nbsp;<\/li><li>TLTROs will be made more generous, but its success hinges on credit guarantees<br>&nbsp;<\/li><li>Specifically, we expect the following:<br>&nbsp;<ul><li>A \u20ac500bn increase in the size of the PEPP<\/li><li>PEPP purchases to continue at least until December 2021 and possibly until June 2022<\/li><li>The APP to continue at a faster rate of \u20ac30-35bn\/month<\/li><li>More TLTRO operations extending until March 2022; a further easing of TLTRO modalities<\/li><li>An increase in the tiering multiplier<br>&nbsp;<\/li><\/ul><\/li><li>EUR strength is not yet a concern for the ECB. This is good news because the central bank\u2019s ability to push the currency lower is limited.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img loading=\"lazy\" width=\"893\" height=\"1024\" src=\"https:\/\/www.bbinv.es\/wp-content\/uploads\/2020\/12\/1A368242-4997-4489-A6C8-D2AE6DFF3A17-893x1024.jpeg\" alt=\"\" data-id=\"170\" data-full-url=\"https:\/\/www.bbinv.es\/wp-content\/uploads\/2020\/12\/1A368242-4997-4489-A6C8-D2AE6DFF3A17.jpeg\" data-link=\"https:\/\/www.bbinv.es\/?attachment_id=170\" class=\"wp-image-170\" srcset=\"https:\/\/www.bbinv.es\/wp-content\/uploads\/2020\/12\/1A368242-4997-4489-A6C8-D2AE6DFF3A17-893x1024.jpeg 893w, https:\/\/www.bbinv.es\/wp-content\/uploads\/2020\/12\/1A368242-4997-4489-A6C8-D2AE6DFF3A17-262x300.jpeg 262w, https:\/\/www.bbinv.es\/wp-content\/uploads\/2020\/12\/1A368242-4997-4489-A6C8-D2AE6DFF3A17-768x880.jpeg 768w, https:\/\/www.bbinv.es\/wp-content\/uploads\/2020\/12\/1A368242-4997-4489-A6C8-D2AE6DFF3A17.jpeg 1106w\" sizes=\"(max-width: 706px) 89vw, (max-width: 767px) 82vw, 740px\" \/><\/figure><\/li><\/ul><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Double-dip recession risks have increased &#8211; the ECB will add more stimulus this week&nbsp; The focus will be on extending support for longer through PEPP and TLTROs&nbsp; Asset purchases in response to the pandemic could reach \u20ac2.7trn by June 2022&nbsp; TLTROs will be made more generous, but its success hinges on credit guarantees&nbsp; Specifically, we &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.bbinv.es\/?p=169\" class=\"more-link\">Continuar leyendo<span class=\"screen-reader-text\"> \u00abECB to stay easy and steady for longer by TS Lombard\u00bb<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bbinv.es\/index.php?rest_route=\/wp\/v2\/posts\/169"}],"collection":[{"href":"https:\/\/www.bbinv.es\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bbinv.es\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bbinv.es\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bbinv.es\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=169"}],"version-history":[{"count":1,"href":"https:\/\/www.bbinv.es\/index.php?rest_route=\/wp\/v2\/posts\/169\/revisions"}],"predecessor-version":[{"id":171,"href":"https:\/\/www.bbinv.es\/index.php?rest_route=\/wp\/v2\/posts\/169\/revisions\/171"}],"wp:attachment":[{"href":"https:\/\/www.bbinv.es\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bbinv.es\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bbinv.es\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}