The monetary transmission mechanism in Europe - where easier central bank policy leads to a pickup in deposits and credit - is broken, asserts Nomura. The ECB's LTRO funding is better than not having ...
The monetary transmission mechanism in Europe - where easier central bank policy leads to a pickup in deposits and credit - is broken , asserts Nomura. The ECB's LTRO funding is better than not having anything, but it isn't improving an interest rate channel which has been impaired since 2008 ...
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