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Event studies and the random walk hypothesis: Why the end of bond buying by the ECB is a non-event

Event studies and the random walk hypothesis: Why the end of bond buying by the ECB is a non-event

The ending of the ECB's bond buying programme had no impact on interest rates. In this post, Ansgar Belke and Daniel Gros argue that this is because while the programme might have lowered rates when it was announced, the impact was only transitory […]