ecb speech, 2023-11-09
In addition to the role of central bank reserves under non-standard conditions (whether proximity to the ELB and/or stressed circumstances), it is also important to assess the possible macroeconomic impact of the structural level of central bank reserves in the new steady state that will emerge after the roll back of QE-inspired asset purchase programmes and the expiry of the TLTRO programme.
Sentiment: neutral
Topic: mp_economic_activity