, Columnist
ECB Takes a First Step to Admitting Its Mistake
Officials have growing concerns on the economy. That their stimulus came so soon after QE ended suggests some issues with decision making.
This isn’t quite the market reaction we were looking for.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
The European Central Bank is beginning the process of admitting it made a policy mistake. It looks like we get one for each governor.
Officials rightly acted swiftly to add more stimulus to the worsening euro zone economy on Thursday. Pushing out rate guidance and restarting TLTROs were all welcome moves now that the idiosyncratic risks to growth are morphing into widespread damage.