Quick thought on inflation
The ECB is ignoring inflation as they believe it’s oil/energy based. So let’s say that’s true and inflation drops back to around 0.5%-0.7% in the headline, and the same in the core. Doesn’t that beg the question, what exactly has the ECB got for its €1.5tn in QE? Surely some of this inflation is down to QE, as per the whole reason they’re doing it?