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Olivier Blanchard x.com
Separate and interesting discussion. True, the ECB (BDF) is slowly reducing its holdings of sovereign bonds, including French bonds (this is called QT, quantitative tightening). By selling those bonds, it decreases their price (not very much, but a bit) and thus increases the interest rate paid by the governments of the euro zone. This indeed makes things a bit harder for the government, who now pay more on their debt. Is the ECB doing this to spite governments, or to induce them to adjust? Emphatically not. It is doing this because it wants to reduce reserves (which is what happens when it s…
interest ratesgovernmentholdings
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7 September
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What is a korrent?
A korrent is a belief a person has stated in their own words: one sentence stating the claim, backed by a quote and a source, kept at korrents.com.
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