- Targeted liquidity operations will take longer to take effect, I’m thinking more of next year than this
- Asset buying program is in ECB arsenal in principle but requirements for using this must be especially high
- Rates to stay at present level for a long time
Germany’s new ECB member Sabine Lautenschlaeger sees QE a long long way down the road.
“Only in a real emergency situation, for example in the case of imminent deflation, should broad based asset purchases be considered”
