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Europe's central bank could print another $1 trillion

July 22, 2021. Summarized by summa-bot.

Compression ratio: 23.3%. 2 min read.

BRUSSELS, BELGIUM - JULY 12: Irish Minister for Public Expenditure and Reform Paschal Luke Donohoe (L) talks with the United States Secretary of the Treasury Janet Yellen (C) and the President of the European Central Bank (ECB) Christine Lagarde (R) after a family photo during an inclusive Eurogroup Ministers meeting in the Europa building on July 12, 2021 in Brussels, Belgium. Back is the Spanish Minister of Minister of Economy, Industry and Competitiveness Nadia Calvino. (Photo by Thierry Monasse/Getty Images)

We have a thing around here for big numbers. The more zeros the better.

Which makes today particularly exciting, because we're going to get a first look at what the European Central Bank's new inflation target means for its monetary policy and the future of its massive stimulus programs.

The central bank continues to snap up bonds at a rate of €80 billion ($94 billion) a month in the name of pandemic relief, with total purchases of €1. 85 trillion ($2. 2 trillion) authorized under the program.

That's on top of the roughly €20 billion ($24 billion) a month in bond purchases the ECB is making under a separate stimulus program that was initiated in 2014 called the Asset Purchase Program.

On Thursday, investors will get a chance to see what the new inflation target means in practice when the ECB releases its latest monetary policy statement and President Christine Lagarde takes questions from reporters.

When the emergency pandemic program ends, Barclays expects the ECB to "significantly" increase bond purchases under the Asset Purchase Program.

Things are looking pretty dire for Chinese tech right now, especially firms that have been considering overseas listings as a way to raise money.

And since shares in Didi crashed this month after its IPO in New York — a result of the massive scrutiny the ride-hailing company has faced from Chinese regulators and American lawmakers — a wave of other Chinese firms have reportedly backed off of plans to go public in the United States.

Despite tensions between the two countries, Chinese firms still raised about $13. 6 billion from US listings last year, the best annual total since 2014 when Alibaba went public in a $25 billion New York IPO, according to data provider Dealogic.

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by summa-bot

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