The document discusses the European Central Bank's (ECB) monetary policy decisions announced on March 10th, 2016, including rate cuts and expansion of the asset purchase program. It highlights the ECB's challenges, such as the scarcity of government bonds and the impact on bank profitability. The ECB introduced new targeted longer-term refinancing operations (TLTRO) to stimulate lending. The market reaction to these measures was volatile, indicating the ECB's limited options to influence markets.
doj/DataSet10/EFTA01388576.pdf
{"title":"The limits of monetary policy","key_people":["Mario Draghi"],"document_date":"March 2016","document_type":"correspondence","key_locations":["Eurozone"],"document_subtype":"report","key_organizations":["European Central Bank (ECB)"]}