Last Thursday, the European Central Bank has announced the main orientations of its monetary policy for the next year. They have been clarified by the comments added by its president, Mario Draghi. We have, now, a clear indication about the evolution of the eurozone during the coming months. Markets made no mistakes about it. They immediately reacted: European stock markets, except Spain due to political reasons, rose and the euro fell. The currency lost more than 1% against the dollar.
First, the ECB announced that it will prorogate until September 2018 its quantitative easing policy but for amounts reduced to ...