The Eurozone Fights ‘Lowflation’

The Eurozone Fights ‘Lowflation’
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The Eurozone Fights ‘Lowflation’

Inflation has consistently undershot the ECB’s official forecasts, which have proven overly optimistic for years. By embarking on a robust quantitative easing (QE) program beginning in March 2015 and with the intention to expand its balance sheet by over €1 trillion, the ECB aims to shift the trajectory at last. Will it be successful? QE will certainly help on the margin, but the eurozone still faces many challenges, including the need to enact growth-enhancing reform if long-term economic prospects are to improve meaningfully.

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