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The ECB has already started “tapering” less corporate purchases than other programmes since April 2017, the month which saw the reduction from €80bn to €60bn of monthly purchases. Recently, President Draghi was not the only member of the ECB Governing Council noting that in 2018 the “ECB will continue buying sizeable quantities of corporate bonds in the programme”.
Bastien DRUT, Roberta FORTES, Silvia DI SILVIO
Fixed Income and FX Strategy
Andrea BRASILI, Bastien DRUT, Eric BRARD, Francesco SANDRINI