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Monetary policy skirmishing continues ahead of ECB meeting

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Monetary policy skirmishing continues ahead of ECB meeting

Thursday 9 September 2021 – Vol.12 Ed.36.4

Commentary: New round in ECB Kriegsspiel over bond-buying

By David Marsh in London

The ECB governing council faces an important test of cohesion over scaling back fourth-quarter government bond-buying under its 70%-completed €1.85tn pandemic emergency purchase programme. The 9 September meeting of the 25-strong group heralds a fresh stage in a psychological battle between the minority favouring a tighter policy and the ECB board with their supporters among other central bank governors on the council.

Read the full commentary on the website.

Report: Global Public Investor 2021 – Active ownership

In a single day on 26 May this year, the world witnessed how societies’ values can affect financial value. Three of the biggest publicly traded oil and gas companies suffered a climate backlash. A Dutch court ruled in favour of climate campaigners, ExxonMobil shareholders elected two new climate-conscious board members proposed by small activist hedge fund Engine No. 1 and Chevron’s annual meeting supported a proposal to cut scope 3 emissions in opposition to the company’s directors.

Download the full report.

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