Wait, How Much In LTRO’s?
Long-term Refinancing Operations (LTRO) became a standard non-standard monetary policy tool in the European Central Bank’s (ECB) toolkit late in 2011. A second confounding (global) banking crisis had struck yet again catching global policymakers with their pants down, this one seemingly centered directly upon Europe. On December 8, 2011, amidst constant rumors (probably real) that two of the major European [...]
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